Britain’s housing market is changing. The number of owner-occupiers is dropping significantly, whilst those who are renting are on the rise. These figures highlight that Britain is increasingly becoming a nation of renters, with few people being able to own their own properties and instead turning towards renting.
The English Housing Survey for 2013/2014, released last month, indicates a notable rise in private renting, growing even larger than the social sector for the first time since records began. Home ownership is at its lowest level since 1986, with the older homeowners making up the majority.
Owner occupation has fallen to 63%, but private renting has risen to 19%. The social rented sector, meanwhile, remains steady at 18%. The biggest presence in the private renting sector is the younger generations who are finding it difficult to have ownership of their own homes. 48% of all households aged 25-34 are renting privately, whilst home ownership in the 25-34 year old category has dropped to 36%, down from 59% in the course of a decade.
This surge in private letting indicates the need for more properties. The British Property Federation have indicated that an institutionally funded build to let sector would help to comfortably contain this surge and ensure that people receive the right properties for them. In order to alleviate the housing crisis, there is a real need for more property and that is why we’re calling on those landlords who are simply sitting on an unused property or even portfolio of properties.
We offer help for landlords who are looking to potentially let their properties. We offer an extensive guaranteed rent service to ensure that the landlord will receive a constant income no matter what. We also offer a comprehensive private letting service designed to assist landlords with privately letting out their properties to young professionals looking to move to the city. With a housing crisis impending, we believe it is important for landlords to open their properties, allowing them to earn a fair amount of money whilst also relieving stress on the housing market. From full property management to guaranteed rent to council leasing in Merton and beyond, we can provide a diverse range of services to meet your needs.