Popularity of renting not buying on the up

Belvoir Lettings - new town centre office
Belvoir Lettings - new town centre office
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RENTING is fast becoming a new way of life in Wigan – despite lower interest rates and better mortgage deals becoming available for prospective new homebuyers.

Dorian Gonsalves, Chief Executive Officer of Wigan-based lettings specialist Belvoir, said: “Whilst there has been a gradual shift towards renting over the past 30 years, our current assessment of the housing market indicates that it’s not just about financial factors.

“It seems more and more people are being drawn towards the rental option and the benefits of NOT owning a property.

“Property prices continue to be pushed up by a lack of supply. There are not enough houses being built and, as a result, house prices are now the highest they have been for nearly three years - and rising at the fastest rate at any time within that period.”