The rental market is seems to be almost recession proof as a growing number of people cannot afford to buy their own home. Here are some recent key facts:
- The latest census results show that from 2001 to 2011 the proportion of UK households in the private rented sector has risen from 12% to 18% (1)
- 9% of tenants prefer the flexibility of renting and a further 9% say they can afford to rent properties they could not buy (2)
- Property investors are coming back into the market and buy-to-let continues to be a safe investment with property prices almost stagnant, interest rates remaining low, and average annual total returns of 6.4% expected over the next 5 years (3)
- Additionally, the latest figures from Rightmove (the UK’s number one property website) show that UK rents have risen by 13.6% since 2009, and they predict a further increase in rents of 2% in 2013.
- Rightmove also found that 24% of tenants said they expect to become a landlord in the future, and 9% of tenants said they are a landlord already actively renting out a property
(1) Guardian article by Tom Smith, January 2013
(2) National Landlords Association, May 2012
(3) Sunday Times article by Anna Mikhailova, November 2012
