Looking at the most recent housing survey; it is shown that there are many more young people renting places to live in than buying a properties. The reason for this is cost, as well as being less stressful to rent.
There has been a decrease in home ownership between the age of 25-34. This is a perfect time for investors to look at properties to invest into, as there is a large market for the young audiences who are willing to rent out a place to live in. One of the reasons why young people are living in rented-out homes is because they are unable to afford to purchase a home at the current time. This is good for property investors as they will have a large audience who are looking to live in a rented place. Estate agents such as ‘Your Move’ have reported that they are seeing a large move in tenants relocating further away from London due to the rental increase; this is a huge advantage for property investors as if they purchase properties outside of London or even in the outskirts of London, there will be a better chance for them to find tenants for their properties.
The Labour Party has also proposed a new law for tenants that live in the UK; “tenants in Britain to be allowed to keep pets”.
This will be a very positive thing for the property sector as more people will feel much more comfortable living in a rented-out property as it will make them feel at home. This will have an overall impact on the property renting sector as there will be an increase on people renting out places.