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Private rented sector to account for 20% of housing by 2020

If current trends continue the private rented sector will account for 20 per cent of the housing market by 2020, according to Savills Research director Yolande Barnes.

She told delegates at the Council of Mortgage Lenders’ Future Housing Conference today that the private rented sector will gain more traction over the next decade, with owner occupiers expected to fall from their current level of approximately 70 per cent of the housing market to 60 per cent by 2020.

Barnes predicts the social housing sector will remain largely static.

She says: “For the first time, individuals are shifting from the owner occupier sector to the rented sector, which is being caused by second steppers being forced to rent as they do not have enough equity in their property to move.”
       

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