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Comment by: Lynne Fry, Business Consultant, Target Group
Forget Generations X and Y. Welcome to Generation Rent! Latest figures show that UK tenant demand is at an all-time high thanks to a shrinking owner-occupier market, general lack of affordable new housing and fewer homes in the social rented sector.
With a recent Halifax Building Society survey of 8,000 consumers revealing that 64% of current non home owners had no confidence in their prospects of buying a property, the Buy To Let sector boom looks set to continue.
The three key reasons behind this lack of consumer confidence were found to be:
All of these factors seem to be driving a very real socio-economic shift in attitudes to rental versus owner-occupied housing in this country.
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Target has strengthened its mortgage market presence as Yorkshire Building Society outsources buy-to-let operations