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Government report shows rising demand for rented property
Posted by Richard Saunders
New data published by the government appears to show that the private rental sector is becoming more important to the UK housing market as the country continues its recovery from the global economic downturn.
According to the English Housing Report, which has been produced by Communities and Local Government, the number of households being rented privately across the nation has increased by one million to 3.4 million in total since 2005-06.
Therefore, such accommodation now accounts for in excess of 15 per cent of all households in England, a rise on the figure of 14.2 per cent posted in 2008-09.
Nigel Terrington, chief executive of buy-to-let mortgage company Paragon, commented that this represents evidence that "demand for privately rented property is at an unprecedented level and far outweighs supply".
Meanwhile, David Lawrenson of LettingFocus.com remarked recently that banks in the UK are unlikely to loosen their lending criteria for landlords in 2011.
28/02/2011 15:08
News category: Property