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Over 1.75 million homeowners would now consider selling their home and renting compared to 12 months ago because of the housing market crash.

It seems that UK homeowners are increasingly adopting the habits of Continental Europeans who often rent their homes, as 1.75 million homeowner's state they would now consider selling their home and renting because of the housing market crash, according to new research from Unbiased.co.uk.

Almost a third of those who already rent their home believe that with the recent volatility in the housing market, renting gives them more freedom without the hassle of owning their own home. Over one in ten state they now no longer aspire to the status symbol of owning their own home after the recent property market crash – nine out of ten renters say the property market crash has put them off buying.

This means there could be more opportunities for those looking to invest in property because simply, more UK renters means more UK profits for landlords.

Karen Barrett, chief executive of Unbiased.co.uk says: "While there are mixed messages as to whether house prices are now starting to rise again, it is clear that the property market crash has had a profound effect on the way people view their homes. For many who own their own home, the worry and stress of this through the property market volatility has caused them to re-think about whether long-term renting is a viable option for them."

For those renters who are still looking to get on the property ladder, especially first time buyers, it is vital that they see a whole of market mortgage adviser to ensure they are getting the best possible advice from the whole of the mortgage market. And for those who want to take advantage of the demand for rental property, a whole of market mortgage adviser is equally as crucial – first-time buyers and buy-to-let investors alike need a expert guiding hand through the mortgage process.

SOURCE: Unbiased.co.uk, 04/01/10

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