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London's rental market; an evolving market
The private rental sector is the fastest growing tenure in the UK with over 1.8 million renters in London alone. The huge demand for quality stock means new build stock is particularly popular with discerning renters.
The Private Rented Sector (PRS) is the fastest growing tenure in the UK. It has more than doubled in size over the last 20 years, equating to more than 150,000 households entering the sector each year. Currently there are well over 5 million households living in private rental homes. According to
PricewaterhouseCoopers there will be an additional 1.8 million private rented households by 2025. This would take the total to almost 7.2 million and would mean that almost one out of every four households in the UK would be privately rented.
In London alone there are over 1.8 million renters (according to the English Housing Survey). This equates to 28% of all households. A number of factors have driven the rise in renters. These include mortgage constraints and lack of affordability, demographic change and lifestyle shifts.