Proportion renting in UK

moosegirl

I wondered if anyone out there knew how many people rent compared with those that have mortages? Is it 1 in 10, or 1 in 200 people? I don't know anyone who does (I'm in the nearly 40 age bracket) and a vast amount of new houses that are built in the area seem to go up for 'let' and not 'for sale'. I can't believe that the housing market values can be true with so many people buying to let. It seems to me there are those that can afford more than one house, and those that can afford to buy nothing. Yes I do feel a little bitter and twisted about it with my main concern being how I can pay the rent if and when I ever manage to retire. Also at some point will there be a huge amount of property for sale when property tycoons try and realise their capital (pensions) and so the property market will fall? In fact will it ever fall? Will I ever be able to buy a house? Help!

kittiwoz

Can't help with the rest but here is some info on the proportion of the population who rent: www.statistics.gov.uk 31% in 2002.

carolt

My sympathies - I'm in exactly the same position - I'm 36 - but nearly everyone else i know has bought - either donkeys years ago when cheap, with parents help, or elsewhere eg Wales, North West where (relatively) cheap - I'm in Hertfordshire. Yes, I get very stressed/depressed about it too.

If it makes you feel better, the proportions of owner occupiers are much lower in London - read somewhere they were about 50 or 60% renters here - can't remember exact figure.

keeperbear

carolt wrote:

My sympathies - I'm in exactly the same position - I'm 36 - but nearly everyone else i know has bought - either donkeys years ago when cheap, with parents help, or elsewhere eg Wales, North West where (relatively) cheap - I'm in Hertfordshire.

If it makes you feel better, the proportions of owner occupiers are much lower in London - read somewhere they were about 50 or 60% renters here - can't remember exact figure.

I am your age and live in London. I jointly bought a very small flat with a college mate back in 1993. The mortgage was a fortune back then (16% interest) and we had a severe lack of space. In fact, I had no spare cash and no holidays for many years. No help from the parents. Fast forward to 2007, and I now own the original property and my mate owns another property. It can be done, but you may have sacrifices. More and more people are buying property with friends, and might be your only option in London. For me, it was worth the effort.