Private rentals increasingly used for housing needs

Increasing numbers of people in England are relying on the private rented sector for their housing needs.

This is according to the Department of Communities and Local Government's English Housing Report, which revealed an increase of one million in the number of households renting privately in the last nine years.

The demand for landlord insurance will have undoubtedly increased as 2001's total of 2.1 million privately renting households increased to 3.1 million in 2008-09.

In 2001, the private rented sector accounted for 10.1 per cent of all households in England, a total that increased to 12.7 per cent in 2007 and 14.2 per cent in 2008-09.

Paragon Group chief executive Nigel Terrington said a "diverse range of households" call the private rented sector home.

"The sector's importance to the UK's housing needs is growing annually as increasing numbers of people decide to rent - owner-occupation has been in decline since 2003 and we believe that this trend will continue as potential buyers are either unwilling or unable to step on the housing ladder," he commented.

Meanwhile, the Association of Residential Letting Agents last month predicted an increase in the number of private landlords entering the rental sectors as the UK recovers from recession.

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