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Friday, August 20, 2010

Rental sector up up & away

A well respected surveying practice Savills predicts that the percentage of British households in the private rental sector could increase to 20% or one fifth of UK households by 2020. This would be up from 15% today.

This comes as increasing numbers of middle ranking earners; those on £15,000 to £25,000 struggle to find sufficient money to make house purchase an option. The latest figures from the Council of Mortgage Lenders (CML) reveals that the average first time buyer deposit is now running at £35,000.

This projection comes as rents continue to rise strongly this year with the Rentindex showing rents have risen by 3% in the last 3 months and 1.7% in just the last month alone.

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