The government predicts that the private rental sector in England alone will grow by some 500,000 homes within a decade.
In the impact assessment for the application of Awaab’s Law to private rentals, the government sets out current and predicted statistics.
It says that within England there are, in 2026, some 4,827,000 households privately renting.
It then rises at about 1.2% per year, passing five million in 2029 and by 2035 reaching an estimated 5,378,000.
However the government hedges its bets on the accuracy of these figures.
It comments that the most recent figures on the number of landlords dates back to 2019-20 when there were some 2.3m.
It concedes that “it is not possible to
estimate trends in landlord numbers” and while it assumes that number will not change significantly there is uncertainty underpinning this assumption due to lack of data.
It then claims “For example, we may
see consolidation within the sector in order to benefit from economies of scale when undertaking remediation work.”
You can see the full Awaab’s Law impact assessment here: https://assets.publishing.service.gov.uk/media/6ac79567a57ddfe32196a92e/Extending_Awaab_s_Law_to_private_rented_tenancies_and_to_licences_-_impact_assessment.pdf
This article is taken from Landlord Today