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.To read more about investment property in the UK and abroad, click here.
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