2015 Private Rental Sector Tenancies
Are More Than Double 1985 Figures
A UK think tank claims that the number of tenants renting private rental sector properties has more than doubled since 1985.
According to research conducted by ResPublica, 22% of all UK properties are in the UK private rental sector (PRS), more than double the number in 1985 when this proportion was only 9%.
On the other hand, the number of tenants renting in the UK social sector has fallen dramatically during the same period.
30% of tenants rented from public and social landlords in 1985, however, this figure has fallen to just 9% according to the research.
The research also discovered that despite a significant drop in numbers during the early part of the new century, the number of owner-occupiers is still around 61%, the same as it was thirty years ago. The findings are a far cry from all the media hype suggesting that the UK is fast becoming a nation of renters.
The think tank’s findings reflect those of the annual English Housing Survey which revealed that 19% of UK households were rented in the private rented sector in 2013/14, while the number of owner-occupiers accounted for 63%.
The findings suggest that the UK PRS is healthy, strong and more importantly, sustainable, even with an avalanche of new legislation that has been introduced by the Government.
There are now a wide range of useful specialist products and services and a host of practical resources available to landlords, and their appointed lettings and property management agents operating in the UK private rented sector (PRS).
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