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Renting is now a 'lifestyle choice'

02 November 2006
In today's world the rigidity of career paths and the timeline for starting a family and buying a house is gone, meaning more young people are choosing to rent for longer rather than buy.

Peter Bolton-King, the chief executive of the National Association of Estate Agents (NAEA), says that it is no longer just a lack of affordability that is driving away potential first-time buyers to the rental market.

"A lifestyle change has happened over the years," Mr Bolton-King commented, saying that graduates who would ordinarily have looked to buy as soon as possible are now deciding to spend the massive outlay required for a deposit on other things.

"In the old days we didn't have the massive numbers of private landlords you have these days so I think a lot of people, especially the younger [generation], are deciding [they] wouldn't mind renting for longer.

"People are much more prepared to consider working elsewhere in the country or abroad," he added.

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