Private rental numbers in England overtake social housing numbers
Thursday 21 February 2013
Soaring demand for private rental homes in England over the past few years has resulted in the private rental market going from strength to strength. A rising number of singles, couples, and families have been turning to private landlords in order to secure a suitable home in the area of their choice. Some areas have proved so popular that bidding wars have erupted amongst prospective tenants who are eager to get their name on the tenancy.
The popularity of the private rental market has been reflected in recent figures released as part of the English Housing Survey 2011/2012, published by the Department for Communities & Local Government. The data shows that for the first time since the 1960s, there are more people in England who are renting homes from private landlords than from local authorities and social housing landlords. The figures are almost equal, but private rents are now marginally ahead, with numbers standing at 3.84 million compared to 3.8 million for social housing rentals.
Driving forces behind the growing popularity of private rented homes
A number of factors and forces are thought to be behind the growing popularity of private rented accommodation in England. Some of the factors that have fuelled the boom in the private rental sector, and could result in further growth in this market in 2013, include:
The mortgage sector: With some people, namely first time buyers, struggling to raise a large enough deposit to secure a mortgage, many have turned to private rented accommodation over recent years.
Rising landlord numbers: The strength of the private rental market has brought in an increasing number of buy-to-let investors over recent years. This has increased availability of private rental homes for tenants, and could help to stabilize rental prices over the course of this year. This may make private renting more affordable and therefore more desirable.
Social housing issues: With lengthy waits for social housing accommodation in many areas, the increased speed at which private rented accommodation can be obtained will continue to sway many people who are looking to rent.
Increased foreign investment: Areas such as London have become a prime target for foreign real estate investors, with many honing in on the luxury property market. This could mean an increase in luxury properties to rent in desirable areas, which could see the number of more affluent private renters increasing.
Over the past couple of years, demand of private rental properties has reached unprecedented levels. With this trend set to continue, agencies that deal with properties to let, such as Hamptons Estate Agents in London, could experience a growing influx of applications from people who are eager to secure a private tenancy.
Hibernate during winter and make your living during the summer at this busy guesthouse with panoramic sea views, in the village of Lynton
A four-bedroom penthouse next to the Tate with direct views of St Paul's from two floors of luxurious living space
A four-bedroom detached home surrounded by spacious gardens and woodland, close to New Pudsey
An 18th-century, three-bedroom home near Langstone Harbour built from ships beams with vaulted ceilings and wood burning stoves
A five-bedroom semi-detached home with a mix of period and modern features in a popular and convenient location
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A deceptively spacious, beautifully presented Georgian home with 3000sq ft of living space and five reception rooms
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
A three-bedroom, 15th-century cottage with original features in the picturesque village of Sissinghurst
A six-bedroom terraced house with large south-facing roof terrace, cinema room and wine cellar
A new seven-bedroom home built in Queen Anne-style with swimming pool and parkland views in Mortimer
A listed, four-bedroom farmhouse in the rural hamlet of Rushall with detached barn, four acres of gardens and paddocks
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
Life & Style blogs
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 4 Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
£16400 - £17500 per annum: Recruitment Genius: This leading online E-commerce ...
£27300 per annum: Recruitment Genius: This is an opportunity to join a leading...
£22000 - £26000 per annum: Recruitment Genius: One of the UK's leading boiler ...
Negotiable: Recruitment Genius: This is an exciting opportunity to join an awa...