The private rented sector ended 2019 strongly, with 27% of landlords experiencing an increase in tenant demand, according to the latest research by Paragon.
The government’s recent English Housing Survey found that the number of households in the PRS has remained unchanged at 4.6 million, or 19% of all housing tenures.
It also shows that the length of time households are staying in private rented property is increasing, from an average of 4.1 years to 4.4 years.
But the market trends research reveals that 37% of landlords expect tenant demand to grow during 2020, compared to 7.3% predicting a fall.
Richard Rowntree, director of mortgages at Paragon, commented: “Although home ownership is increasing on the back of government policies, there is clearly still growing demand for rented property for a variety of reasons.
“We expect to see tenant demand to continue to increase in the coming years and it’s important the Private Rented Sector is adequately financed to ensure tenants have a good choice of property and rental inflation is kept under control.”