17 Jan 17.01.2019 UK Rental Sector – Opportunity for Property Investors
17.01.2019 UK Rental Sector – Opportunity for Property Investors
Whilst, for the first time in thirty years, the number of young people buying property is rising, much more people will continue renting in 2019 and beyond.
The number of young families becoming homeowners has risen by 3% since 2016. However, with the combination of stagnating wages, increased cost of owning and buying property, renting will “continue to be the norm” for many British families.
Currently less than one in five families in London, Manchester, Liverpool, Brighton and Birmingham own their homes. Therefore, rented accommodations are particularly in demand in the UK’s largest and the most economically developed cities.
The report, conducted by the Resolution Foundation found that 34% of young families in the UK now live in the private rented sector. In comparison, in the late 1980s this number was set at 9%.
While demand for rental properties is going to rise further, the UK’s property market is experiencing lack of supply.
The latest report from the Ministry of Housing, published in August 2018, showed that there was a 46,000 fall in the number of available rental properties on the market in 2017.
This highlights the opportunities available to property investors who are keen to get involved in the development of the UK property sector and achieve strong growth in a significantly undersupplied sector of the UK property market.
If you are looking to acquire a property in the UK, and you need an assistance with your purchase, please call Svetlova LLP on +44 207 129 129 6.