Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Private rental sector continues to grow, says TDS

Private rental sector continues to grow, says TDS

There has been a significant increase in the amount of tenancy deposits taken on assured shorthold tenancies in England and Wales by landlords, reflecting the growth in popularity of buy-to-let property as an attractive investment, it has been claimed.

Fresh data from the Tenancy Deposit Scheme (TDS) revels that at the end of March 2016 there were a total of 3.426m deposits protected across England and Wales, which is an increase of around 360,000 over the year.

The total value of the deposits being protected amounts to £3.567bn - an increase of £379m over the year.

"These figures demonstrate the continuing growth of the private rented sector, which is now larger than the social housing sector in England and Wales," said Steve Harriott chief executive of the Tenancy Deposit Scheme

The average value of deposits protected, however, stayed static and at the 31 March 2016 the average deposit was £1,041. This compares to £979 four years ago.

Harriott added: "The huge number of deposits being paid by tenants at a value of some £3.5bn demonstrates the need for tenancy deposit schemes to ensure that deposits are protected for tenants."

Article courtesy of Landlord Today | Sign up for Landlord Today newsletter | Get this news on YOUR site!