Private rented sector growing, figures show

by Christopher Evans

The past year has seen a rise in the number of people in search of buy-to-let advice as the private rented sector has experienced a boom, figures suggest.

Referring to statistics released through the Communities and Local Government's English Housing Report, Paragon emphasised the growing role of the private rented sector in the UK.

Between 2005-06 and 2009-10, there has been a 3.5 per cent decline in the proportion of households that are owner-occupied, it revealed, while social renting households have also fallen.

"The sector's importance to UK housing continues to grow as increasing numbers of people opting to rent privately rather than step on the housing ladder," highlighted Paragon's Nigel Terrington.

It was recently reported by the Buy-to-Let Index from LSL Property Services that in January, rental costs fell for the second month in a row throughout England and Wales, despite buoyancy in the market.

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Published on: February 25, 2011

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