LETTINGS NEWS: Private rental sector in England growing at 17,500 households per month
It sounds a remarkable figure but the government has confirmed that the number of households in England living in privately rented accommodation has increased by an average of 17,500 every month for the past 10 years.
Currently some 20 per cent of households across the whole of the UK privately rent.
However, a forecast from the Association of Residential Letting Agents – the body which sets standards for agencies such as East of Exe – suggests that 29 per cent of households will privately rent by 2025.
East of Exe has seen a very strong start to the year’s lettings market in two ways. Firstly, there are more buyers wanting to invest in property to let, and secondly there has been a rise in tenants registering and wanting to live in Topsham, Exeter and East Devon.
These figures suggest that demand is likely to increase still further in the near future.