According to figures from the General Lifestyle Survey carried out by the National Statistics Office, the number of households renting properties from private landlords has increased by 5% between 2008 and 2011. In the same time period, the number of people with a mortgage fell by 5%.
Reasons why more people are renting
Analysis of this trend would suggest that a fall in the number of people with a mortgage ties in with the beginning of the housing market crash—once house prices dropped into the doldrums, lenders made it extremely difficult for borrowers to get a mortgage, and so far nothing much has changed. Interestingly, figures revealed indicate that the proportion of people renting homes was even higher in the 1970s.
Good news for landlords
The rise in the number of people living in private rented accommodation will come as no surprise to many landlords. After all, in some areas of the UK, demand far outstrips supply, which is why unscrupulous landlords are able to rent out sheds in gardens under the guise of a “compact bedsit with a scenic view”.
Other interesting statistics from the General Lifestyle Survey
The number of unmarried women has risen by 25% since 1979, which is good news if you are a man on the lookout for a wife
The number of cigarette smokers has fallen by 25%, which is bad news for the tobacco companies and excellent news for the beleaguered NHS
Three-quarters of all households now have access to a vehicle
The number of people drinking on five or more days per week has fallen by 7% in men and 4% in women—hardly surprising when you consider how much a drink costs these days!
