Rise of the rental sector
MORE that one in five households will rent privately by the year 2020, signalling enormous growth in the private rented sector in the first two decades of this century.
The latest projection comes from buy-to-let lending specialist Paragon, which estimates that the private rented sector is worth £500bn, which is more than the entire UK commercial property sector.
It says that private rented accommodation is becoming a tenure of choice and argues that decline in social housing over the past 20 years means that it is now the only real alternative to home ownership. It has also become, for some investors, an alternative to buying stocks and shares.