Tenants happier, younger, paying less and staying longer
Tenants are increasingly happier, younger, paying less and staying longer in energy efficient homes, new research from the English Housing Survey (EHS), conducted by the independent Office of National Statistics (ONS) shows.
Satisfaction amongst renters is higher than those that rent socially, the survey found, and satisfaction with their landlords was in the high 70 per cent bracket.
In 2005-06, 24 per cent of those aged 25-34 lived in the private rented sector (PRS). By 2015- 16 this had increased to 46 per cent.
Rents as a proportion of household income has actually gone down over the last year and on average it stands at 35 per cent of total income.
Evidence from the National Audit Office also found that, with the exception of London, rents rose slower than the rise in median incomes.
The survey also found the current average time a tenant lives in their home to be over 4 years.
Energy efficiency in the PRS is also continuing to improve, as the proportion of properties in the F&G efficiency bands are down from 10.6 per cent in 2013-14, to just 6.3 per cent in 2015-16.
A spokesman for the National Landlords Association said: “These official figures are welcome news but they don’t mean more can’t be done.
“Of course there are issues within the PRS which demand improvement. Our message however has not changed.
“In a well intentioned rush to do something, law makers should not forget that the market is generally working well for the vast majority of tenants.”
The NLA argues that the ‘vast majority of the sector is professional and business-like’, but thinks the best way to improve the sector will not be through ‘more legislation and the demonisation of landlords’, but by the proper enforcement of existing laws and ‘recognition in the tax system of the vital role landlords play.’
In 2015-16, there were 4.5 million households in the private rented sector (20 per cent).