On the FTSE 250, Grainger, the UK's largest listed specialist residential landlord, rose after it released a survey that suggests renters could overtake owners soon. The shares climbed 2.4p, or 2.5%, to 97.9p.
On Friday, Harm Meijer at JP Morgan wrote: "Two of the companies with the highest financing risk (IVG and Grainger) have now been able to refinance, underpinning our view that the listed sector is generally 'fine'."
Grainger's survey found that over two-thirds of people agree that times are changing, with long term renting becoming a common choice for many people in Britain. In 15 years' time, more people expected to be renting than owning homes.
Grainger's executive property director Nick Jopling said:
There is a new housing reality dawning on Britain: the financial crisis has tightened mortgage lending; house prices continue to be uncertain; and, frankly there are simply too few homes for the demand.
In such an environment, renting is becoming an increasingly popular alternative due to the greater flexibility, added financial stability and quality accommodation on offer. More and more people are renting with many considering renting as an important stepping stone in housing tenure. Young people now consider renting as a step towards home ownership and for as much as 92% of young people it is seen as the only way they can move out from their parents' homes.
