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Thursday, January 13, 2011

Shortage pushes people to rent

The FT at the weekend reported that the continued shortage of homes or more accurately homes that first time buyers can afford is underpinning the health of the private rental sector.

In the last ten years from 2000 the value of the private rental stock has increased by 178% which despite the recent slump in house prices illustrates the long-term attractions of investing in residential property.

Savills research also shows that the private rental sector now accounts for 12% of the total housing stock, up from only 9% in 2000.  The respective share in total housing stock value has also increased from 11% to 14%.

The value of private rented stock increased by 178 per cent to £587bn in the 10 years to 2010. The sector now accounts for 12 per cent of total housing stock, up from 9 per cent in 2000, and 14 per cent of its total value, up from 11 per cent.

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