{"id":2650,"date":"2017-04-21T12:00:50","date_gmt":"2017-04-21T11:00:50","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2650"},"modified":"2017-04-21T12:00:50","modified_gmt":"2017-04-21T11:00:50","slug":"renting-becoming-long-term-solution","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/renting-becoming-long-term-solution\/","title":{"rendered":"Is renting becoming a long-term solution?"},"content":{"rendered":"<p><strong>Owning a home remains the dream of most Brits, but with prices constantly increasing and the supply shortage ever presented, is it maybe time to change that dream?<\/strong><\/p>\n<p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/20\/owns-london-probably-not-think\/\" target>For many Londoners<\/a>, the idea of owning a home sounds amazing, and very far out of reach. The average house price in the capital sits somewhere around \u00a3800,000, the average annual salary is far from it, at around \u00a340,000. <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"VYVY26paeW\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/09\/buy-london-first-time-buyers\/\">Where to buy in London: First time buyers<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Where to buy in London: First time buyers&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/09\/buy-london-first-time-buyers\/embed\/#?secret=5cVbo9kDBO#?secret=VYVY26paeW\" data-secret=\"VYVY26paeW\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>And although this is a rather drastic example, things aren\u2019t looking an awful brighter throughout the rest of the country. Britain\u2019s <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/03\/23\/home-affordability-at-its-lowest-in-eight-years\/\" target>housing affordability is low<\/a>, no matter of the region you\u2019re looking at.<\/p>\n<p>Apart from those who might be inheriting a respectable sum or who know they can bank with mum and dad, project homeownership may slowly be dying in the capital. <\/p>\n<p><strong>So the question becomes, is it time to adjust our expectations, if we can\u2019t change the market?<\/strong><\/p>\n<p>To be fair, we wouldn\u2019t be the first ones to do so. Many European countries see renting as the norm. Across Europe\u2019s core countries <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/21\/rental-costs-increase-berlin-despite-rent-cap\/\" target>people live in rented accommodation<\/a>, and they do so very happily. <\/p>\n<p>Seemingly, developers are also slowly coming around to the idea. In fact, they\u2019ve given birth to a whole new sector in the market: <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/07\/invest-build-rent-property-tenant-included\/\" target>build-to-rent<\/a>. And it\u2019s booming. <\/p>\n<p>The <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/17\/2017-year-build-rent\/\" target>number of build-to-rent homes<\/a> being under construction has multiplied by four in recent years, with more to come. <\/p>\n<p>And even the Government and some of the industry\u2019s biggest players are showing their healthy support for the sector. The Government recently published its <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/07\/britains-housing-white-paper-revealed-explained\/\" target>Housing White Paper<\/a>, clearly giving emphasis to making the private rented sector more stable and attractive. <\/p>\n<p>The industry has now followed suit. Only this week, 20 of the country\u2019s biggest developers and investors have <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/20\/build-rent-developers-investors-make-three-year-tenancies-norm\/\" target>signed a pledge to offer three year tenancies to renters<\/a>. <\/p>\n<p>This, in a country where tenant rights are still far behind landlords rights, is a major step to create a sector where a family would happily choose to live in rental accommodation. <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"S6o6aNUYtH\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/14\/build-rent-deliver-240000-new-homes-2030\/\">Build-to-rent could deliver 240,000 new homes by 2030<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Build-to-rent could deliver 240,000 new homes by 2030&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/14\/build-rent-deliver-240000-new-homes-2030\/embed\/#?secret=DdQ5BSwBxY#?secret=S6o6aNUYtH\" data-secret=\"S6o6aNUYtH\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Of course, this shift in thinking and attitude won\u2019t happen overnight. It\u2019s a lengthy process that may take some time for people to be comfortable with the idea to never actually \u201cown\u201d where they\u2019re living. <\/p>\n<p>One thing, however, is for sure: <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/11\/29\/britains-build-rent-explosion\/\" target>build-to-rent developers<\/a> are trying hard to speed up the process by creating stunning developments that offer everything a tenant could ask for.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Owning a home remains the dream of most Brits, but with prices constantly increasing and the supply shortage ever presented, is it maybe time to change that dream? For many Londoners, the idea of owning a home sounds amazing, and very far out of reach. The average house price in the capital sits somewhere around<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/renting-becoming-long-term-solution\/\" title=\"ReadIs renting becoming a long-term solution?\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[38,278],"class_list":["post-2650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-housing-market","tag-build-to-rent","tag-renting"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2650"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4392"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}