The private rented sector (PRS) in Britain has rapidly expanded in size over the past fifteen years and its current worth is nearly four times higher than it was in 2000, a new study shows.
The Buy To Let Britain report of Kent Reliance found that the PRS value now stands at £990.7 billion, which is 11 per cent higher than a year ago.
The PRS total worth now is equal to 43.1 per cent of the value of the country’s stock market, while fifteen years ago it accounted for just 12.2 per cent of it.
All factors are indicating a further increase in private tenancies in the UK as new homes supply remains subdued and demand grows.
About 150,000 new households were added to the PRS in the year to March 2015, accounting for 77.4 per cent of the total number of households created across all types of tenure.
Kent Reliance expects 5.5 billion households to be in private rented housing by 2020, compared to 4.8 billion now.
