The annual value of the rental market in England is a whopping £66.7bn.
Lettings inventory and property compliance specialists VeriSmart analysed how the English rental market compared to the GDP of global nations.
The company looked at the average annual rent paid in both the private and social rental sectors. Then, VeriSmart multiplied these figures by the total number of households in each sector.
England’s impressive rental market figures
The study revealed over 4.5 million private tenants pay a sum of £10,128 yearly, while more than 3.9 million social renters pay £5,304. This makes the combined annual value of the rental market in England £66.7bn.
To put these impressive findings into perspective, England’s rental market alone is more than the GDP of global nations like Ethiopia, Dominican Republic, Oman, and Luxembourg.
Jonathan Senior, founder of VeriSmart, commented: “As this research proves there is still a huge appetite for good, honest landlords with suitable rental properties and the collective return available for them is greater than the GDP of over a hundred and fifty global nations.”
Property investment in England
These figures further show England’s rental market is continuing to be resilient even through economic and political uncertainty. In 2018, every region of England boasted above average investment volume, and investment in the north-west even reached the highest level since 2007.
Overseas investment has also increased, especially in cities like Manchester and Liverpool. Regional markets are expected to continue to boast growth in the rental market with demand increasing and buy-to-let yields proving to be lucrative.
England’s rental market remains strong, and as Jonathan Senior stated, “It’s still one of the safer investments one can make.”
