Pri­vate rent­ing dou­bles in decade

Yorkshire Post - Property - - FRONT PAGE -

THE num­ber of peo­ple rent­ing homes from pri­vate land­lords has nearly dou­bled in the last decade, jump­ing from 2.5 mil­lion in 2002 to 4.8 mil­lion, ac­cord­ing to a re­port by Savills and Rightmove.

The study pre­dicts that one in five house­holds could be in pri­vate rental accommodation by 2016, which would re­quire an ad­di­tional 1.1 mil­lion rental homes.

The re­port fore­casts that a £200bn in­vest­ment will be needed, but says that only £50bn of this is ex­pected to come from buy-to let-fund­ing.

It says the gap could be filled by in­sti­tu­tional in­vest­ment in new build-to-let accommodation, but say re­turns com­pared to other in­vest­ments will dic­tate the speed of de­vel­op­ment.

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