The English Housing Survey for 2015-16 has shown the continuing change in tenure amongst the UK’s housing stock.
1. Overall tenure
Once again there has been a growth in the number of private renters at the expense of social renters and new mortgage applicants. The PRS now accounts for 19.9% of UK housing stock.
This has been the case for some time. Now the government is backing the PRS and moving away from a focus exclusively on home ownership, there could be more.
2. London tenure
In London, the effect is even more pronounced, with private renters the largest occupier type, depending on how data is cut. 28.1% of London stock is now privately rented.
3. Age of households
For households of 25- to 34-year-olds, the key tenure is the PRS, though there has also been a small uptick in owner occupiers.
4. Income as a percentage of mortgage or rent
The PRS dominates in terms of its cost as a percentage of household income, and this may be something that detracts from its popularity with councils and planning committees. In the London draft supplementary planning guidance, large-scale rental schemes have been given an exemption from the new 35% flat rate of affordable housing.
5. Under occupation by sector
Meanwhile, while the PRS continues to see occupation increase, occupation by home owners has been declining.
6. Life satisfaction by sector
Furthermore, in terms of life satisfaction, owning a home continues to win outright.
All information is from the English Housing Survey 2015-2016.
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