Private rented sector grows

News at Trigghomes | 21/04/2023

Private rented sector grows

The number of households in England and Wales increased by 6% between 2011 and 2021, and the number in the private rented sector by close to 20%. There are now more than 5 million households in the sector. 

Across all age groups, the proportion of households in the private rented sector has increased. Proportionally the largest increases are evident in households headed by those aged 35 and above. 

More than one in three households in the 35-49 age group are now in the private rented sector. Back in 2011, less than 25% of households in the private rented sector were headed by someone over the age of 50, today that figure is nearly 30%.

Research indicates that for the majority of family renters and renters aged 45+ their ideal lease length is over two years, with one in five willing to pay more to secure a property for a longer period.

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