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We are becoming a Nation of Renters Again

When Maggie Thatcher introduced much of the nation to buying their own home ownership rocketed and just ten years ago over 70 per cent of the nation's householders owned their own homes.

However since the heady days ownership has fallen and continues to fall as just over 60 per cent now own their own home but over the next 25 years this figure is expected to fall to just 50 per cent.

The UK is a small island with demanding planning laws and with net immigration figures of 200,000 a year demand for housing has exploded and together with the economic situation there is no other option for a large percentage of potential homeowners other than to rent.

Most young people looking to find their a new home want to buy it themselves and renting a home is not what people want.

In a recent survey over 75 per cent people currently living in rented accommodation and just over half in social housing homes said that eventually they wanted to buy their own homes.

However, with the UK rental market being eyed up by large pension funds and other investors it looks like the market for new homes to buy is not going to grow fast soon, with these large corporate organisations looking to build to let.

The government needs to look at new imaginative schemes to encourage these large new investors into the residential home build market who are building to rent to see how they can allow renters to buy as and when they are able to do so. If the government can do this, investors can still make a very good long term return.

Unless a more pro-active approach is made we will all eventually become a nation of renters again.



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KEY MONEY

IS KEY MONEY PREMIUM ACTUALLY ILLEGAL IF ON AN ASSURED TENANCY?
Just interested to know?

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