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Will we see an increase in the number of rented properties?

Even though there is no doubt that more and more people are renting properties today there is a feeling that this is a trend which could continue for some time to come. Despite the fact that stability will return to the UK property market and the UK economy in due course, many people have been shaken by the events of the last 18 months which has seen housing repossessions hit record highs, bankruptcies and debt issues mushroom and more and more people losing their jobs.

While eventually the vast majority of those who are considering renting properties at the moment will ultimately be able to afford a mortgage for their own property, there are concerns that a fear factor could slow down the market. Everybody in the UK will know a friend or family member who has suffered during the recession and ultimately it will be in the back of many people's mind for some time to come. Even though time is a great healer, the actions of many of the U.K.'s mortgage providers, who have quickly reacted to mortgage defaults by repossessing homes, will not be forgotten in the short to medium term.

The UK financial market and the property sector will return to "normal" in due course although this could be some time off.

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