As mortgages become tougher to access and the end of Help to Buy makes it harder for first-time buyers to get on the property ladder, will build-to-rent become an increasingly popular tenure over the next few years? Emily Twinch investigates
The UK is a nation of homeowners. If someone does not own their home, they usually have the aspiration to do so. On the continent renting is much more the norm. In Germany, for example, more than half (50.5%) of the population live in rented accommodation and people do not have the same drive to buy their own property.
But homeownership in the UK may well become harder to achieve over the next couple of years, with mortgage rates likely to remain high and the cost of living crisis continuing to push more people into rented accommodation.
The 2021 census, released this month, showed a rise in the proportion of people in England and Wales that rented their homes, from 34.3% (8m) in 2011 to 37.3% (9.3m) now. And that figure could well go up again in the next few years as private sector landlords sell up given the increasing requirements, such as energy performance certificates, that are eating into their profits.
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