According to research from the Office of the Deputy Prime Minister, the private rental sector is growing steadily. Provisional figures from the Survey of English Housing show that the proportion of households that are privately rented has grown by 2% since the year 2000. The new figures are likely to show the private rented sector at around 2.5 million. The survey also highlights the growth in the proportion of households whose occupants are under 30 and renting from 33% to 40% between 2001 and 2005, while the proportion of those who are under 30 who are buying a home with a mortgage fell from 40% to 36%.
Our view
Pressure has been on the buying market for some time with high prices and higher interest rates. If it is more difficult to buy, people rent.
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