The latest English Housing Survey has
confirmed what we already suspected by showing that the private rental sector
is on the increase.
The private rental sector accounts for 19%
of all tenures, 4.4 million of households, making it the second largest tenure
in the UK. This is up from 18% at the
last survey whereas in 2003 the rental sector accounted for only 11% of all
tenures.
Social rented property now accounts for 17%
of households with home ownership covering 63%.
The report also shows that for the first
time homeowners without a mortgage are greater in numbers than those with one
with 7.4m owning their homes outright whilst 6.9m used a mortgage.
Finally
in 2013-14 almost half (48%) of all households aged 25-34 rented privately, up
from 45% in 2012-13. The proportion in this age group
living in the private rented sector has more than doubled from 21% in 2003-4.
Over the same ten years, owner occupation in this age group dropped from 59% to
36%.
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