Broke Britons are resigned to renting

THOUSANDS of Britons are resigned to never owning their own home and are comfortable with the prospect of long-term renting, according property portal Findaproperty.com.

Despite rental prices reaching an average £890 per month at the end of last year – the highest level ever recorded by Findaproperty. com, one in four (26 per cent) renters say the prospect of renting in the long term isn’t a problem for them and 38 per cent don’t feel that owning a property in the future is critical.

Only half (54 per cent) said purchasing their own home was ‘very important’ to them. Renting is still a necessity for more than half of all respondents with 61 per cent saying they cannot afford to buy.