VeriSmart, a letting compliance firm,\u00a0recently\u00a0analysed\u00a0data of the\u00a0UK\u00a0private\u00a0rental sector<\/a>\u00a0and homeowning market.\u00a0The research revealed\u00a0if the present rates continue\u00a0there\u00a0will\u00a0be more people renting than owning a home in 20 years. Currently, the\u00a0UK has the fifth highest number of tenant\u00a0occupiers\u00a0out of all\u00a028\u00a0EU nations.<\/p>\n Homeowners\u00a0presently\u00a0make up 65% of the housing market, which is a fall of 5% since 2010.\u00a0VeriSmart\u00a0forecasts\u00a0renters will account for 55% of the housing market by 2045.\u00a0The high cost of property in the UK has led many to remain in the rental market.\u00a0In some regions of the UK, it\u2019s\u00a0even\u00a0cheaper to rent<\/a>\u00a0than buy in terms of monthly costs.<\/p>\n Jonathan Senior, chief executive officer of VeriSmart, stated:\u00a0\u201cThis was initially driven by consistently buoyant house price growth coupled with stagnant wage growth providing no other option but to rent, however, social rental numbers are falling, Build to Rent is growing in prominence, and there has been a number of tenant friendly changes to the sector.<\/p>\n \u201cAll of these changes are making the rental sector a more attractive place to be and as a result, we are seeing more of us opt for it and stay there for much longer than we may have traditionally.\u201d<\/p>\n As\u00a0Generation Rent<\/a>\u00a0gets older, renting is expected to\u00a0remain popular. Last year, research revealed that over 50% of adults under the age of 40 are expected to be\u00a0renting\u00a0privately-owned accommodation<\/a>\u00a0by 2025. Resolution Foundation\u00a0also\u00a0found that\u00a0up to one third of young adults will never buy a house.<\/p>\n \u201cWe are currently seeing a shifting mentality in the way we choose to live our lives and for Generation Rent, in particular, there is no longer that urgency to make it out of the rental sector and secure their own \u2018piece\u2019 of bricks and mortar,\u201d Jonathan Senior commented.<\/p>\n To keep up with the\u00a0growing\u00a0demand\u00a0of\u00a0the rental market,\u00a0build-to-rent<\/a>\u00a0properties can play an important role.\u00a0Build-to-rent developments\u00a0are\u00a0performing strongly in\u00a0regional cities, like\u00a0Manchester<\/a>,\u00a0Leeds<\/a>,\u00a0and\u00a0Birmingham<\/a>, and\u00a0larger\u00a0schemes\u00a0are on the way\u00a0in these thriving cities.<\/p>\n The build-to-rent sector is helping increase housing supply with high-quality rentals in convenient locations.\u00a0Often with\u00a0appealing amenities, such as pools, gyms, and communal areas,\u00a0build-to-rent\u00a0properties\u00a0are expected to continue to be\u00a0attractive\u00a0options for young professionals.<\/p>\n","protected":false},"excerpt":{"rendered":" Based on current rates,\u00a0tenants privately renting are expected to make up\u00a050.7% of\u00a0the housing market\u00a0by 2039. VeriSmart, a letting compliance firm,\u00a0recently\u00a0analysed\u00a0data of the\u00a0UK\u00a0private\u00a0rental sector\u00a0and homeowning market.\u00a0The research revealed\u00a0if the present rates continue\u00a0there\u00a0will\u00a0be more people renting than owning a home in 20 years. Currently, the\u00a0UK has the fifth highest number of tenant\u00a0occupiers\u00a0out of all\u00a028\u00a0EU nations. UK likely… Read more »<\/a><\/p>\n","protected":false},"author":1982,"featured_media":5023953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,4,6],"tags":[46],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/5023952"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1982"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=5023952"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/5023952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/5023953"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=5023952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=5023952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=5023952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}UK likely to become a nation of renters<\/h3>\n
Generation Rent\u00a0leads\u00a0rental\u00a0demand<\/h3>\n
Build-to-rent\u00a0is key to boosting\u00a0supply<\/h3>\n