PRS now fastest growing property sector
Analysis from Savills reports that the private rented sector (PRS) within the UK is now worth a staggering £1.29 trillion. This means that the sector’s value has now passed that of the mortgage-owned occupier stock for the first time. The growth in the market is due to a number of factors, with a key reason being a change in attitudes towards home ownership. A third of British renters are now classed as ‘satisfied tenants’ – renters that harbour no ambition to buy property in the next five years, and who prefer the flexibility that rented accommodation provides.
Full story available from the Select Property Group: http://www.