19
Jun
Property ownership 'enshrined in UK consumer psyche'
The desire to own property is "enshrined in the UK property
market", according to the chairman of property and financial
organisation DTZ Residential.
Peter Braithwaite said that it would take a "major change" in the
sector for renting to become the more acceptable and most
sought-after living arrangement in the country.
He added that there are a number of ways of gauging people's
attachment to where they are living.
"At present, an owner refers to the fact that 'I have a place in
Chelsea', and someone renting says, 'I rent a flat in Chelsea',"
the expert explained, suggesting the different connotations
associated with renting and ownership.
Commenting on other parts of the industry, Mr Braithwaite claimed
that mortgages are at a "relatively affordable" level at the
moment.
Housing intelligence group Hometrack reported on June 1st that
there was a six per cent increase in the number of new buyers
registered in May 2009, compared to the previous month.
