Research from leading property portal FindAProperty shows that some 26% of renters say the prospect of renting over the long term isn’t a problem for them and 28% don’t feel that owning a property in the future is critical.
Only 54% of people said that purchasing their own home was very important to them.
One in 10 people said they preferred to rent because of the flexibility it offered
One in five renters said they decided against buying a home because they could not afford to live in their desired area.
Similarly 6% have been put off buying because the type of house they could afford would be too small for their needs.
More than half of those currently renting predicted that if they did not buy a home, they wouldn’t be able to until they were over 40 years-old.
Samantha Baden, property analyst at FindaProperty, said: “A rented home doesn’t carry the same stigma as it used to. For many people, the decision to rent is based on the flexibility and convenience renting offers, and not necessarily because they can’t afford to buy.
“There’s no denying that home-ownership is still a top priority for many people and for those looking to buy, now could be a good time as mortgage rates and asking prices have both come down in recent years.
“However there are still millions of people who don’t consider getting a foot on the property ladder as their ultimate aim. In these cases, renting a home can be the best choice for some people and allow them to live the lifestyle they want at a particular time of their lives.”
David Sansome, Managing Director at Sansome & George added: “This research demonstrates that the private rental sector is an important part of the overall UK housing mix and that demand exists for both renting and buying.”
