PROSPECTIVE buyers are shirking mortgages in favour of renting properties, according to a Warrington-based lettings agent.

Belvoir, which has an office on Sankey Street, says that the struggling economy means people are opting to rent a home for the long term, instead of buying a property.

Dorian Gonslaves, managing director, said: “For reasons of flexibility, mobility and budget, 2012 will see a shift towards more people viewing renting as a preferred lifestyle choice, rather than a necessity.

“By renting a property, people are able to plan their spending much more accurately and also have the flexibility to relocate and follow job offers.”

The number of house buys are down by around 50 per cent compared to before the credit crunch, according to the company.

It says that financial difficulties have seen an increasing amount of homeowners leave their house, rent it out and then move in to cheaper rented accomodation.

Gary Pemberton, from Belvoir Warrington, said: “Rents will rise moderately, remaining more or less in line with inflation throughout the coming year.”