There is substantial investment going in to the private rental sector by individual landlords, according to evidence from the latest edition of the English Housing Survey.
Data from the most recent survey, analysed by the National Residential Landlords Association, shows that investment in energy efficiency is particularly large.
Since 2007 the proportion of homes in the private rental sector achieving the highest EPC levels has risen almost five-fold and is continuing to increase, the NRLA says.
“Landlords have been responding to market demand, tenant requests and their own concerns for the environment. This investment is now being made at a time when there has been little rental growth, nor is future rental growth likely to be significant. Yet at the same time, landlords are being asked to make significant investments in their properties for reasons other than the prospect of being able to charge market rent premiums” says the association.
This is happening at the same time as the English Housing Survey suggests that in London, for example, rents have fallen in money terms.
The NRLA’s analysis continues: “Outside of London however, median rents did at least show an increase. The increase in median rents to £162 from £159 per week is equivalent to a 1.9 per cent increase. Although it will depend on how this figure is calculated we can say that rent increases are at or even below other measures of price change.”