Rental Properties are on the Up!
The latest figures are out, and they show that more rental properties are available in the UK than ever before. Indeed, there was a 58% increase in the number of private properties available between the years of 2005 and 2012.
Why is that? Well, there are a number of reasons. However, you should take a read through all the facts and stats listed on the infographic if you want the lowdown.
House building is up, and it continues to rise. In 2012, the number of UK households stood at 26.4 million. That figure is much higher than it was ten years previously. The number is expected to rise to 28 million by 2016.
Rental property is more readily available. As we said a moment ago, there was a 58% increase in the number of private properties available for rent between the years of 2005 and 2012. The figure went from 2.4 million to a staggering 3.8 million.
Future predictions based on facts. Over the next five years, it is expected that house building and property prices will rise by 12.6% in the North East. It is also predicted that London property prices will rise by 10.4% while those in the South could increase by 26.4%. So, now is clearly the best time to rent or buy.
While the UK housing market is known the fluctuate regularly, buyers are now trying to act fast. They understand there is a lot of money to be made from such significant price increases.