One in four Britons believe era of ownership is ending, study claims

People are 'feeling empowered to own less'

(PA)

One in four UK adults believe the era of ownership is coming to an end, a study suggests.

A poll of 2,000 people found more than 40 per cent believe they will never own their own home – perhaps unsurprising given the country’s well-documented housing crisis.

However, the poll also suggested that currently less than half the nation own cars outright.

The results of the study display the current trend for renting almost anything, instead of shelling out on permanent purchases, which could imply a shift in attitude towards ownership as a general concept.

As the sharing economy continues to gain popularity, one in ten adults believe sharing feels more “modern”.

Around one in four enjoy the flexibility in pricing that it offers over paying a lump sum when purchasing an item.

And one fifth believe there is less pressure and responsibility when renting, though 36 per cent of adults think they would miss the sense of ownership they feel when buying items.

The study also found eight in ten drivers believe the need to own a car has fallen in the last five years.

However, one in three Brits still said they felt “pressure” to own their home outright.

Xavier Collins, director of Turo UK, which commissioned the research, said: “We’re living in a post-ownership society.

‘’From the homes we stay in to the cars we drive, the sharing economy is dominating more and more corners of our lives.

“Brits are feeling empowered to own less, and those who do own assets are becoming more entrepreneurial with them, accelerating the UK’s sharing culture.”

SWNS