Despite some grim figures emerging from Central London, the regions and commuter belt areas outside of the city have been subject to positive news indicating that further growth will continue in the short and medium term.
The English Housing Survey has published its most recent results, revealing that a massive 84% of PRS tenants are satisfied with their housing. It even found that more people are satisfied in PRS than they are in social rented accommodation, with 81% of social sector tenants agreeing they are satisfied.
There was also an increase in the number of PRS tenants who are satisfied with the way their landlord carries out repairs and maintenance, with 72% reporting that they’re satisfied, this is also in comparison to just 66% in the social rented sector when asked the same question.
David Smith, policy director for the Residential Landlords Association, as reported in Property Investor News said of the findings: “Whilst we should never be complacent, these results confound the myths that some have peddled about the private rented sector. It shows once again that the vast majority of private sector landlords do a good job and look after their properties and tenants properly.”
Additional data from the Office for National Statistics (ONS) shows that private rents grew by 3.1% between January and July 2018. Mortgage approvals for buy-to-let mortgages are also up, according to the Financial Times, and the Deloitte Crane Survey 2018 has shown healthy increases in the number of buy-to-let and off-plan construction projects in the past 12 months.
This should all come as comfortable reading for property investors who can be confident that, based on the recent data, the PRS is currently in rude health. If you’re looking to invest in premium residential buy-to-let in the UK, contact us today to speak with an expert property consultant.