While some people in politics championed the thought of us all becoming home owners, it appears us, the general public, are not always taken with the idea.
A new survey among 1,000 tenants conducted by The Deposit Protection Service has found that 38.4 per cent of tenants said that they plan to remain in a rented home, rather than buy a property.
Renting a property can be a lifestyle choice as much as a financial one, with the flexibility of short-term lets, greater freedom of movement, fewer ties and lower upfront costs.
Rental demand remains strong throughout London but the buy-to-let market itself is undergoing a period of transition that may leave tenants short of property choice.
The lettings sector in London actually needs more landlords to come forward to service the demand, especially when you consider that 1.8 million more households will be looking to rent, rather than buy, in the future, according to research from The Royal Institution of Chartered Surveyors (RICS).
Private landlords looking to grow their buy-to-let portfolio and potential property investors assessing current market conditions are being urged to speak with established lettings agents to ensure the supply of rental properties meets the needs of today's growing tenant population.
“Renting is a vital part of the housing sector, and a significant proportion of the UK population choose to be tenants as it better suits their life plan or lifestyles.