Mar
01

1 Million increase in family renters

The number of families privately renting homes has increased by one million in the last 10 years, new figures show. This brings the total figure to 1.6 million households, an increase of 50pc over the previous five years, according to the government’s English housing survey.
The huge rise in the number of families moving into the private rented sector highlights that renting is no longer a staging post for young professionals. Increasingly families rent for the long term, raising questions about the availability of appropriate tenures in the sector. The figures are a good guide as to the longer-term trends and a widening divide in the housing market”.
In this respect it shows that the number of households under the age of 35 in the private rented sector rose by more than one million, from 24pc to 46pc, over the past decade, while the number of owner occupiers over the age of 65 who own their own home outright rose by over 900,000.