'UK a nation of property owners''UK a nation of property owners'
Buying property is much more ingrained in British culture than in other European countries, one expert has said.
Paul Collins, the property editor of Buy Association, said that one of the reasons for increased home ownership in the UK is because "it is incredibly easy to get a mortgage".
He said that the number of property shows in British television is an indication that the UK has a "property culture" unlike Germany, for example, where renting is more prevalent.
According to the UN Economic Commission for Europe, 42 per cent of properties in Germany are owned, compared with 70 per cent of UK.
"What people tend to forget is that it's incredibly easy to get a mortgage in the UK and not necessarily as easy to get a mortgage in France or Germany," he remarked.
"We've certainly got a property culture in terms of not only buying property but of moving property as well."
According to housebuilder Redrow, many first-time buyers are forced to buy poor quality, rundown houses in unattractive areas due to rising house prices.
However, by purchasing a brand-new home, new buyers can move in and not have to carry out any maintenance work.