|
||
New government figures have revealed the growing dependency amongst UK residents on the private rented sector (PRS) for their housing needs. The Communities and Local Government's (CLG) English Housing Survey shows that the number of households renting privately has risen by one million since 2001, from 2.1 million to 3.1 million in 2008-09. The PRS now accounts for 14.2% of all households in England, up from 12.7% in 2007 and 10.1% in 2001, as the proportion of socially rented households declines, falling from 19.5% in 2001 to 17.7% in 2007. Most pleasing to private landlords is the fact that 83% of private renters are either ‘very satisfied' or ‘satisfied' with their home, while 41% of private renters rely on the PRS for their long-term housing needs and have no intention of purchasing property. And the PRS is now catering for a wide range of age groups, with 48% of private renters aged 34 or under, 22% in the 35-44 age group, 12% in 45-54 group and 16% over the age of 55. “The CLG's figures highlight the diverse range of households who call the private rented sector home,” said Nigel Terrington, Paragon Group chief executive. “Housing completions aren't keeping pace with household formation and there is growing dislocation between people's desire to purchase and their ability to do so. “The Government must recognise the importance of the PRS to the UK's housing needs and foster an environment that encourages the continued investment in the sector by individual landlords. If the sector is unable to grow to meet demand, we are likely to experience rental inflation and people, including the most vulnerable households, being priced out of the sector.” Currently there are 3.3 million properties in the PRS. |
 |
|
 |
||