Tenants paying less and staying longer

The NLA (National Landlords Association) has analysed the Government’s English Housing Survey and has found that the reality of the PRS (private rented sector) is very different from the one that some portray of disgruntled tenants in conflict with greedy uncaring letting agents and landlords.

The findings suggest that in 2015-16 the PRS accounted for 20% of households, of these predominantly aged between 25 and 34.

A decade ago, this age group made up 24% of the PRS but by 2015-16 this had increased to 46%.  Over the same time period, the proportion of this age group buying with a mortgage decreased from 53% to 35%.

Tenancies are also lasting longer. The survey found the current average time a tenant lives in their home to be over four years.

Most surprising of all is that rent as a proportion of household income has fallen in the last twelve months.  On average, households spend 35% of their total income on rent.

The NLA says that within the context of these figures, the best way to speed up improvements in the PRS will not be through more legislation and demonizing landlords, but through funding the enforcement of existing laws and recognition in the tax system of the vital role landlords play.

Leave a Reply

Your email address will not be published. Required fields are marked *

CAPTCHA Image[ Change Image ]