1 in 6 homes now a rental property

26/08/2010

One in every six homes in England is now a private rental property, new figures from Communities and Local Government have revealed.

This is a sharp rise of almost 230,000 properties in the last 2 years. Figures show that 17.4% of all homes in England are now being rented out, and a mind boggling 4 million homes in total, a huge shift towards the continental style of living.

Adding to the trend is the fact that the owner-occupied sector has fallen dramatically to its lowest level since 2000. Basically, more and more people are renting properties, unable to get onto the housing market and less people than ever now own their own home since the last decade.

A major contributing factor is that a large number of people who want to move out of their property to upsize or relocate cannot sell their property. We have seen huge number of owner occupiers letting their properties to Tenants, giving people the real flexibility to relocate or upsize their property.

Let-Leeds has worked with countless numbers of landlords who successfully let their properties to professional Tenants allowing them to rent a property elsewhere.

We are also seeing a dramatic change of perception in the sector, with a mixture of professional landlords, people letting out homes they have inherited or lived in themselves. No longer is the sector dominated by students and professionals, we at Let-Leeds have been letting properties to mature tenants and families with professions such as Doctors, Solicitors, Teachers and even professional Rugby Players!

All our Tenants enjoy the fact that they have the flexibility of living in locations and properties on either short or longer term periods, and the fact they can call someone on a Sunday if the boiler stops working.

Tenant demand is currently very clearly exceeding supply. We have seen our lowest stock levels for quite some time and encourage landlords to invest further in portfolios of professional rental property in top locations to allow for the huge Tenant demand.

For any advice on the Leeds Rental Market please do not hesitate to call us on 0113 244 5669 0113 244 5669 , we are happy to spend time advising on the current market trends and local hotspots at any time.

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