UK private rented sector has more than doubled since 1990s

UK private rented sector has more than doubled since 1990s

New figures show that 20% of all homes in England are now rented from a private landlord, meaning the sector has more than doubled since the 1990s.

These figures are from the latest English Housing Survey, which is published annually by the Department of Communities and Local Government (DCLG).

The continuing rise of Generation Rent and its best friend: the Private Rented Sector

The analysis also revealed that the number of younger people renting has increased, as has the number of families.

The private rented sector (PRS) is still the country’s second biggest tenure with 4.5 million homes being rented during the last financial year (2015/2016). England now has 2.5 million more rental homes than it had in 2000.

The increased popularity of the PRS is particularly strong among younger people. This group is now more likely to rent privately than to own a home. So called “Generation Rent” has increased significantly over the last decade. Whilst the proportion of those aged between 25 and 34 and living in the rental sector was at 24% in 2005/2006 the number has increased to 46% during 2015/2016.

Families are another set of tenants that has been growing a lot over recent years, especially single parent households. The number of those living in the PRS with at least one dependent child increased from 30% in 2005/2006 to 36% in 2015/2016.

The report stated that this increase would roughly equate to one million additional households across the country.

The research also had a closer look at the tenants themselves. It found out that 21% are unhappy with their situation as a private tenant, out of which 9% were very dissatisfied.

And finally, the study also showed that the turnover in the PRS was higher than in other sectors. During 2015/2016 about 787,000 households moved from one privately rented home to another. Additionally 196,000 new households were created within the sector.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT