The private rented sector in the Warwick district appears to be on the up, with more people taking up tenancies in the region than in previous years.
New figures from the Warwickshire Observatory show that Leamington is home to the highest proportion of people who rent their property in the area, with 60 per cent of individuals in the town said to fall into this category, reports the Kenilworth Weekly News.
Overall, the number of people privately renting in the Warwick district rose from 9.5 per cent in 2001 to 16.5 per cent in 2011. This put it some way ahead of the county of Warwickshire as a whole, where 13 per cent of residents were renting three years' ago.
Another report by the Resolution Foundation showed that it's more expensive to rent than buy in 50 per cent of the homes owned by landlords in the West Midlands. This puts it slightly above the national average of 44 per cent.
Lynette Kelly, the Labour prospective parliamentary candidate for Warwick and Leamington, said that she has had access to figures that suggest people in the Warwick district spend more of their income on housing than people in any other part of the West Midlands.
"In Warwick and Leamington, one of the many symptoms of this crisis is the fact that residents in one and two-bedroom housing in the privately owned, privately rented, socially rented and shared ownership sectors are paying a higher portion of their income on housing costs than anywhere else in the West Midlands," she stated.
With more people turning to rented property in this part of the country, landlords could be wise to consider extending their portfolios by acquiring new homes in the area.
While some parts of the district experienced a surge in renters, the lowest proportion was found in Thickthorn and Castle End in Kenilworth, where only 2.4 per cent of residents lived in private rented homes.
Published on: April 8, 2014