The importance of the Private Rented Sector.

The lasts English Housing Survey covering 2018/19 includes some interesting statistics relating to the private rented sector.

A selection of these are as follows:

• 4.6 million ( 19%) of households live in the Private rented sector , broadly unchanged since last year and nearly double the figure in 2002.
• 10% of 55 – 64 year olds live in the Private rented sector up from 7% in 2008/09.
• 41% of 25 – 34 year olds live in Private rented accommodation.
• Ave tenancy length/time in residence is 4.4 years.
• 84% of private tenants were satisfied with their accommodation.
• 55% of tenants expect to buy their own home down from 59% in 2008/09.
• Average age of a first time buyer is 33.

Andrew Luxton MRICS FARLA Partner Stags Residential lettings confirms the survey shows the important part the private rented sector plays in providing housing in the country and above that provided by the Social sector. It also shows the improving condition of the housing stock and the impact many of the recent measures have had in improving the overall condition of the houses we rent  and their energy efficiency which is shown by the high satisfaction rate.

With over 145 pieces of legislation that affect the letting of a property it is vital that any landlord is fully up to date with recent changes.

If not call us and we will try to help you or take a look at our other articles.

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