19 May

Rise in rentals predicted

Rise in rentals predicted

More than 50 per cent of UK homes could be rented by 2032, claims new research.

There has been a substantial increase in the private rented sector in recent years and the Intermediary Mortgage Lenders Association (IMLA) believes this could increase to around 50 per cent over the coming decades.

It also appears there has been a rise in buy-to-let products available, which has boosted the number of people becoming landlords as a way of enjoying strong investment returns.

According to the IMLA, the decline in social housing, the increase in students, rising divorce rates and an expansion in immigration is also driving the demand for rental properties.

Peter Williams, executive director for the IMLA, explained: "If current trends continue then demand for private rented property is likely to drive further expansion and increase the burden on our already overstretched housing stock, at a time when first time buyers are also feeling the pressure of new mortgage market regulations."ADNFCR-1222-ID-801721145-ADNFCR

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