As property prices across the country remain out of the reach of most prospective buyers, Britain is steadily becoming a "nation of renters", experts have claimed.
According to new
research compiled by the Times, demand for rental properties has risen by a massive 41 per cent over the past five years alone, while the website Gumtree has revealed that 71 per cent of tenants have no intention of trying to get a
mortgage soon.
This means that thousands of professionals are likely to be struggling for space in a small flat or house as they save up the money needed to get a foot onto the property ladder.
One
property consultant, Michael Holmes, told the Times: "Until now renting has been a dirty word, with people seeing it as money down the drain. Now
mortgage rationing will push us into a more continental approach to the
property market, in which the majority rents."
Anyone currently sitting out of the market or being forced by financial circumstances to keep renting may want to take advantage of safe storage solutions to ease the problems caused by a lack of space.
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