In light of recent research claiming that 42 per-cent of people aged 35 and under who are renting, are happy to do so for the next ten years or more, Rick Flay, director at Belvoir Sheffield is claiming that this continental shift will become increasingly popular.
With the number of households in England that are privately rented rose from 2.4 million in 2005 to 3.8 million in 2011-12, a 58% increase and over half (52%) of adults in the UK aged under 35 live in a home they don’t own, it seems that more and more landlords will be offering homes for rent for much longer periods of time, something already seen on the continent.
The new research from protection specialist LV= shows that this trend is likely to continue as the younger generation’s attitude to renting is changing.
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let Sheffield, added: “This latest research does not strike me as surprising, about a year ago we predicted that the rentals market would undergo a continental shift and that rents would be offered for longer periods of time. It was interesting to read that half of all renters (43%) no longer see bricks and mortar as a sign of success, and almost three quarters (70%) say the notion that it’s in some way shameful to never own a property is completely out of date.”
Rick, from added, “Traditionally the rentals market was aimed at 20-35 year- olds, but we are now finding that the older generations are also looking for rental properties. It is highly likely that that there will eventually be a housing shortage, which makes it a great time for landlords.
“Rental properties in Sheffield are very much in demand and will continue to be so. I would advise any would be landlords to take the plunge as there has never been a better time to invest in the buy-to-let market.”
Belvoir Lettings Sheffield is the One Stop Shop Specialists for residential property, for buying and selling, for lettings including property management, investment, and wealth management advice, fit outs and renovations, mortgages and conveyancing.
Belvoir Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013.
If you would like some help, have any questions or need advice or would like a FREE realistic valuation for sales call 0114 331 0033 or for lettings 0114 25 25 215 or email us at sheffield@belvoirlettings.com
