The rental market has boomed since the recession saw the rise of Generation Rent . Aspiring first-time buyers are increasingly kept off the property ladder thanks to the tough lending policies and high property costs. Housing experts say that renting is a reality for many for the foreseeable future.
In Warrington, there s a strong rental market thanks to the University of Cheshire ensuring a strong student population. But it isn t just students who need rental accommodation. It was thought by some that the recession would result in a turn around for first time buyers, bringing property prices down and making home ownership more accessible. But in fact, the downturn has changed the property market fundamentally ensuring renting is the only option for millions of people. It s thought the average age of first time buyers has now shot up to 38 thanks to the mortgage squeeze and housing shortage; the private rental sector has never been so vibrant.
For landlords and buy-to-let investors it s good news. Industry experts have announced that renting will be the tenure of the decade as the 100% mortgage is not expected to make a return anytime soon, leaving millions no financial choice but to rent.
Warrington is a strong residential region thanks to the fact it offers something for everyone, from fine historical buildings to an award-winning shopping environment and strong attractions for families. The town centre now boasts a Cultural Quarter featuring the Pyramid arts centre and Warrington Museum and Art Gallery. Add to that canal walks, picturesque villages and a huge array of woodlands, parks and gardens it s not surprising it is such a popular region to live. Warrington was founded by the Romans and emerged as an important market and bridging town thanks to the Manchester to Liverpool railway and the Manchester Ship canal. The population of Warrington has more than doubled since 1968 and the future for Warrington looks even brighter, thanks to the ￡1 billion Omega Development Site which promises to be one of the most active and sustainable business communities in Europe.
Rental Market Thriving In Warrington
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