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Renters could overtake owners by 2026

Tuesday, 15 November 2011 11:07 AM

More of us could be renting a home rather than owning one in 15 years' time, according to a public attitudes survey for Grainger, Britain's biggest private landlord.

Two thirds of respondents in the survey agreed that times are changing with long-term renting becoming a common choice for many people. And 54 per cent expect that more people will be renting than owning by 2026.

The stigma of renting seems to be starting to dissipate, with 51 per cent saying there is too much pressure to buy and 40 per cent seeing renting as an important step on the housing ladder.

However, the survey also revealed conflict between the generations, with 40 per cent of adults under 34 blaming older people for pushing up house prices and failing to build enough homes.

And although 74 per cent see owning a home as something to aspire to, only 31 per cent think the prospects for first-time buyers will improve over the next few years.

Nick Jopling, executive property director at Grainger, said: "There is a new housing reality dawning on Britain: the financial crisis has tightened mortgage lending; house prices continue to be uncertain; and frankly there are simply too few homes for the demand."

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