'Generation Rent' good news

Many housing experts are talking about Britain undergoing a cultural shift in housing tenure to a more 'continental' model where a much higher proportion of us rent.  Savills have recently suggested that the private rental sector could increase to providing 20% of accommodation by the end of the decade.

Further evidence of the so called 'generation rent' emerged when the Association of Residential Letting Agents (ARLA) released their latest figures on the number of tenants seeking to rent property.  ARLA's latest figures reveals that rental demand was at an 8 year high with more than 70% of renters renting property because they were unable to buy.
 
Demand for rental property is highest in the South East according to letting agents where 81 per cent of agents have indicated that there are more tenants than properties.  This compares to 67% in the rest of the UK and 73% in central London.

This level of demand is the highest since the survey began nearly a decade ago and indicates that for many landlords the letting prospects of buy-to-let are strong despite the spectre of a double dip in house prices.

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