Published: 5th November 2014
A new report out this week has shown that the UK buy-to-let property market has continued to grow over the course of the past four years, and today one in every five uk properties is owned by a landlord. The English Housing Survey Report went on to claim that there are now 4.9 million homes being privately rented in the UK, a figure which represents almost 20% of the overall UK property market. The latest figure included in the survey represents a 10% increase in the number of UK buy to let properties when compared with the figures for 2011.
The figures in the survey reflect the growing difficulty people are finding when trying to purchase a property, an issue which has been increasing covered by the UK media in recent years. In particular, younger people looking to gain a foothold on the UK property ladder are finding prices increasingly prohibitive, with lenders tightening their lending criteria and deposit requirements in recent years. Whilst there are clear challenges facing younger people looking to purchase a property, rental accommodation is becoming increasingly popular with other sectors of the market. Indeed, the survey showed a dramatic increase in the numbers of couples and families who are now renting a UK property on a regular basis.
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