Phone Us

Proportion of Privately Renting Households Unchanged in 2018

Total number of households living in privately rented accommodation stable at 4.5 million

4.5 million households lived in private rented property in 2017-18 says new English Housing Survey

The proportion of owner-occupiers aged 35 to 44 has increased for the first time in over a decade.


Published in the last English Housing Survey, the findings reveal 57% of 35 to 44-year olds owned their own home in 2017-18, up from 52% in the previous year, although it remains notably below the 71% recorded in 2007-08.


Across all age brackets, 64% of the 23.2 million households in England were owner-occupiers, a modest 1% higher than 2016-17, which the report suggests is “not statistically significant.”


However, it notes that the gap between outright owners and households buying with a mortgage has narrowed, with 34% owning their own home compared to 28% of mortgagors.


Further analysis of the figures from the survey shows the number of first-time buyers in England has increased by 17%, from 671,000 in 2016-17 to 785,000 in 2017-18, with the average age of a first-time buyer also increasing from 31 to 33.


The data also shows a significant increase in the proportion of 35 to 44-year olds living in the private rented sector, which has more than doubled from 13% in 2007-08 to 28% last year, whilst 44% of people aged 25 to 34 lived in rented accommodation in 2017-18.


Overall, the size of the private rented sector has remained stable, accounting for 19% of all households in England compared with 20% in 2016-17, representing a total of 4.5 million households.


Rental property supply likewise fell in 2018 by 10% according to Rightmove’s most recent Rental Trends Tracker Index.

X
Cookies on our website:
This website uses cookies.
I'm OK with this Cookie Settings ?