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Demand for rented homes in the UK is set to grow by 1.1 million over the next five years despite various government policies to boost home building, according to new research.
Demand for rented homes in the UK is set to grow by 1.1 million over the next five years despite various government policies to bost home building, according to new research.
The Government has a target of building 400,000 new affordable homes for sale over the course of this parliament, but an additional 220,000 homes for rent a year are still needed, according to new analysis from real estate adviser Savills.
Its report says the economic recovery and ongoing low interest rates have done little to reverse the growing need for rented housing. It also states that house price inflation ahead of wage growth has pushed home ownership further out of reach for many and stock in the social rented sector has shrunk by 2.8% in the past five years, pushing more households into private renting.
For more information click here (http://www.propertywire.com/news/europe/uk-new-home-building-2016020311516.html)
