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Generation Rent set to transform UK rentals – and the High Street

first_imgHome » News » Housing Market » Generation Rent set to transform UK rentals – and the High Street previous nextHousing MarketGeneration Rent set to transform UK rentals – and the High Street‘Generation Rent’ is transforming the UK rental market, driving change in rental property whilst providing real hope for revitalisation of the High Street, says research.The Negotiator5th February 201902,023 Views ‘Generation Rent’ is transforming the UK rental market, driving change in rental property whilst providing real hope for revitalisation of the High Street – says new research from MRI Software, a global property technology provider.Their research shows that city and town centres are where Generation Z and Millennial renters – dubbed ‘Generation Rent’ because they’ve been priced out of the home purchase market – want to live. Their findings reveal that the standards they are demanding in rental accommodation promise to reshape the market and bring in a new level of professional property management. The findings of the survey of top executives and managers across the property industry reveal that:Nine in ten (91%) say ‘Generation Rent’ prefer to live in town and city centres, so they can have easy access to amenities that suit their lifestyle – such as gyms, cafes and bars, shops and servicesA similar proportion (90%) say residential rentals in UK town and city centres will become increasingly important for property ownersFour out of five (82%) say ‘Generation Rent’ is renting for longer, driving demand for higher quality propertiesAlmost three quarters (72%) see residential development of former retail premises as the route to giving the British High Street a new lease of life.Trevor Youens, MD, UK Residential at MRI, says that ‘Generation Rent’ is here to stay and having a profound long-term effect on UK rentals. “Build-to- Rent projects targeting young ‘Generation Rent’ professionals are spurring improvements in the quality of property stock – with well maintained, professionally managed communities and modern amenities becoming more of the norm.Generation Rent MRI software rental market build-to-rent Trevor Youens UK High Street UK rentals UK Residential MRI February 5, 2019The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more