The UK housing market is set to undergo a revolutionary culture change
Due to the current difficulty in obtaining mortgages there is a huge cultural shift in the way we look at home ownership. The average students are leaving university with around £20,000 worth of debt and are then are asked for deposits of as much as £40,000 towards a house, this is completely unachievable. This is further exasperated by the fact there are on average 69 graduate applicants per job.
This has meant that renting from a letting agent or a landlord is becoming an increasingly popular choice for many, and a letting specialist is the preferred option due o the security and reassurances this gives tenants, making it financially astute to rent rather than purchase from an affordability perspective.
Letting agents and landlords are reporting that rents are rising by as much as ten per cent over the coming year.
A new report from Easyroommate.co.uk indicates that UK tenants could be paying as much as £63 a month more than to their European counterparts to rent their property.
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