Britons are in no rush to purchase property because prices are not increasing, so those who are relocating are deciding to rent instead, the National Association of Estate Agents (NAEA) has said.

Chris Brown, president of the professional body for estate agents, explained that homeowners who sell up to move to a new location are in "no immediate rush"to buy a new property in the current climate, unlike before the economic downturn.

"What people are saying now is: 'Well let's hang on a minute. We'll sell our house and go into rented',"he commented.

He added that compared to the property sales market, the private rented sector is doing "very well".

This suggests that not all private landlords will have to resort to rental guarantee protection in the current economic climate.

However, after the Council of Mortgage Lenders last week revealed that 4,000 buy-to-let mortgages were taken into repossession in 2008, some might consider rent protection given the impact of rising redundancies and the recession on many tenants' finances.ADNFCR-2002-ID-19039544-ADNFCR

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