Landlords benefit from rise in rented sector

by Christopher Evans

Landlords could be witnessing an improved property portfolio as figures from the Office for National Statistics have shown an upward trend in the private rented sector.

The Social Trends 40 report, which tracks key aspects of British living since 1970, has revealed that the number of privately rented homes had increased from 2.4 million in 1997 to 3.8 million in 2009.

In the past ten years there has also been a rise in the number of people under 30 years with tenancy agreements, from 30 per cent in 1997 to nearly 50 per cent in 2009.

However, fewer people in this age group are buying homes than they were in 1997, falling from 43 per cent to 29 per cent.

This has been put down to rising house prices, marrying later and living in shared accommodation before getting a mortgage.

Last month the Building and Social Housing Foundation expected that renting would be even more common in coming years, with an estimated one in five households in the UK being privately rented by the end of the decade.

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Published on: July 5, 2010

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