One in four Britons have predicted that the ownership era is coming to an end, with more than 40 per cent of adults believing they will never own their own home, research has found.

The study, commissioned by Turo UK, highlighted that adults in the UK currently seem to prefer renting items, rather than owning them, as it also emerged that currently less than half of the nation own cars outright.

Furthermore, one in ten adults believe that “sharing feels more modern”, suggesting that the sharing economy is continuing to grow in popularity.

According to the study, one in four enjoy the flexibility in pricing that renting offers, instead of shelling out a large sum at once. A further one fifth said there is less pressure and responsibility when renting, despite 36 per cent of adults claiming they would miss the sense of ownership they feel when purchasing items.

A third of Britons admitted they felt “pressure” to own their home outright.

Commenting on the research, Turo UK director Xavier Collins 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.”

Of those surveyed, three in ten said they would consider letting their home, or rooms within, out on a peer-to-peer basis, through services such as Airbnb, to create additional income.

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