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Thursday, September 22, 2016

Tenancy deposits reflect PRS growth

The latest statistics from the Tenancy Deposit Scheme shows that at the end of March 2016 there were a total of 3.426m deposits protected across England and Wales; up 360,000 over the year.

The total value of these deposits was £3.567bn, up £379m over the year.

The average deposit remains static at £1,041. 

Steve Harriott Chief Executive of the Tenancy Deposit Scheme and the new TDS Custodial scheme comments:

“These figures demonstrate the continuing growth of the private rented sector, which is now larger than the social housing sector in England and Wales. The huge number of deposits being paid by tenants at a value of some £3.5bn demonstrates the need for tenancy deposit schemes to ensure that deposits are protected for tenants." 

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