Over the past few years there has been an increase of people renting properties rather than buying. This is due to the current economic climate, high house prices and the reluctance of banks to give big mortgages to first-time buyers.
Flats are amongst the most popular properties to rent especially in major cities like London, Birmingham and Liverpool. There are also more properties to rent on the market, as the housing market slows forcing new developments to rent out their properties instead of selling them.
Finding a property to rent is relatively easy nowadays, with many estate agents having their own websites which list available properties for a specific area. These websites have pictures and maps of the properties, giving a brief description and price so you can find what you’re looking for. Viewing can also be booked through the websites so you can see the properties in person.
With no end in sight for the current economic crisis, the best thing to do especially for first-time buyers is to rent until the housing market stabilises.
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