Many young Brits do not feel they will be in a position to own their own home any time soon, it has been claimed.
Peter Braithwaite, chairman of DTZ Residential, said that many young people now see owning property as an aspirational, rather than an achievable goal.
Those who do manage to get a foot onto the property ladder should remember that taking out
home insurance can help them cover the costs of replacing any lost or damaged belongings should anything happen in their new home.
Mr Braithwaite commented: "Although mortgages are relatively affordable at the moment, the general view is that mortgage rates will rise and I believe many young people will see ownership as an aspiration and renting as a practical solution."
According to research carried out by the Chartered Institute of Housing, 70 per cent of Brits believe that owning a property is a good long-term investment.
In addition, 37 per cent of 18 to 24-year-olds noted that homeownership would be their ideal living situation.
Home insurance from
InsureandGo can help cover the cost of any damage to belongings during a house move.
