Is renting long-term becoming more popular? Is renting long-term becoming more popular?

Is renting long-term becoming more popular?

Recent research suggests good news for private landlords.

No. 1486 from our magazine|2 min read| Published in Magazine on 30 June 2022 by our Marketing Team

When compared globally, the UK now has the 10th biggest share of rental properties versus private home ownership.

Figures from a specialist rental platform show that over the last ten years, the number of rental properties across the UK has increased by 1.1 million and now represents a third of housing stock. Out of an estimated total of nearly 30 million dwellings in the UK, over 10 million of those are rented.

Industry experts are suggesting there is a generational shift in mindset towards renting. Of course, high property prices and shortages of housing stock are preventing large numbers of tenants from moving out of the rental market. However, there are large numbers of tenants for whom renting is a choice, with many preferring the freedom and convenience it offers.

With a strong, ‘build-to-rent’ sector emerging, properties are being designed with the long-term rental market in mind. Experts are predicting that renting will become the norm for an increasing number of people, with tenants remaining in rented accommodation until far later in life than has previously been the case in Britain.

If you are thinking of expanding your property portfolio, get in touch to discuss our property management options.

*Property Reporter
This article was originally published by BriefYourMarket and is reproduced here with their permission.

For more company news and insights from Pygott & Crone, click here

Members of the Relocation Agent Network

Part of a network of agents

We work with other trusted estate agents across the nation

Latest news

110% increase in renters aged between 55-64
Magazine | 25 August 2022

110% increase in renters aged between 55-64

While rising house prices have led many younger people to rent for longer before buying their first home, tenants aged over 35 are the fastest growing group.

Can equity release help you through the cost-of-living crisis?
Magazine | 25 August 2022

Can equity release help you through the cost-of-living crisis?

With the cap on energy prices set to rise again this autumn and early next year, the cost-of-living crisis isn’t over yet.

Letting short-term? Here are the prime locations to invest
Magazine | 25 August 2022

Letting short-term? Here are the prime locations to invest

Letting a home to the holiday market can be lucrative, especially in popular staycation destinations.

How to determine the value of your property
Magazine | 25 August 2022

How to determine the value of your property

In our experience, choosing an appropriate asking price can make the difference between your home achieving a fast sale and being left on the shelf, but getting this process right requires careful consideration and a deep understanding of local and national markets.

Chat live

Chat live with a member of staff

Please provide your name and email address to continue.

Cookies

We use some essential cookies to make our website work; and we use some other cookies to help us improve our website without identifying you. You can accept all cookies or change your settings below.

For an explanation of cookies and how we use them, see our cookie policy here (opens in new tab). Below you can choose to enable non-essential cookies.

These are anonymous and help us understand how our website is used.