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Young people ''more inclined to rent'' - Clip Ltd

19 Jun 2009

It is more likely that younger people will opt to rent a property than purchase one, according to a sector commentator.

Matthew Taylor, chief executive at the Royal Society for the encouragement of Arts, Manufactures and Commerce, made his comments among the shell schemes and exhibition stands at the Chartered Institute of Housing (CIH) Conference and Exhibition.

Citing recent research conducted by the CIH and published in recent days, he noted that homeownership is no longer "particularly fashionable" and that letting appears to be "much more the place to be".

"One of the conventional wisdoms in the housing sector is that the crucial objective of all policy is to maximise homeownership and that homeownership is the best form of tenure," he added.

The CIH exhibition took place between June 16th and 18th at the Harrogate International Centre. Guest speakers included actor and political activist Ricky Tomlinson, Tenants Service Authority chief executive Peter Marsh.

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