Demand for rental properties is here to stay

It hasn’t all been good news for landlords of late, but the results of a tenant survey show that demand for rental properties will continue, as almost 30% of tenants say they will never buy a home for themselves.

This data is slightly tenuous, as the personal circumstances of tenants can change at any time, and they might well end up leaving the private rented sector for a property of their own, but these findings remain positive for UK landlords.

The English Housing Survey recently released statistics that revealed that the private rented sector has doubled in size since 2000. The same is true of London, where the number of people renting as opposed to owning their own home jumped from around 13% in 2003/4 to approximately 28% in 2015/6.

Property prices in London, in particular, have risen exponentially over the last ten years. Many would-be buyers have continued to rent, mainly due to affordability issues.

However, renting in the long-term, whether a tenant needs to or not, appears to be becoming more the norm, a conscious lifestyle choice.

There has also been an increase in the number of families with children living in rented accommodation, while the number of private tenants who expect to climb onto the housing ladder and one day own a property has decreased.

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Landlord Today