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Home ownership drops as private renters double in past ten years

Home ownership drops as private renters double in past ten years

The proportion of people owning their own home has dropped sharply and the number of private tenants has doubled, according to recent census data. The figures provided by the ONS show that approximately 1.2 million households were renting from a private landlord in 2011, the 2001 figure was around half of the current number at 604,000. The details relating to dependent children also nearly doubled from 10% to 19%.

 

Shelter called on the Government to build more affordable homes, saying that if it did not do so, more families would be “forced to bring up their children in unstable private rented homes”.
 
Campbell Robb, Shelter’s chief executive, said: “These figures show that renting is no longer the preserve of the young and the mobile. More and more families are joining the ranks of ‘generation rent’ because they are priced out of a home of their own.
 
“Despite working hard and saving each month, the reality is that home ownership has become a distant dream for many, leaving more families to bring up their children in short-term lets that don’t provide the stability they need.”
 
“The Government’s Spending Review has failed priced-out families by continuing decades of under-investment in building the homes we need.

 

Martin & Co Huddersfield (huddersfield letting agent, huddersfield estate agent and huddersfield property management) Director, William Taylor said "these figures are great for your industry, but it is also a wake up call to the government in terms of stricter regulation. I am constantly speaking with past tenants of rogue landlords and agents, something needs to be done to protect these individuals that have been taken advantage of in a good lettings market."