Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Government Predicts Private Rental Sector to Grow by 500,000 Homes
The government predicts that the private rental sector in England alone will grow by some 500,000 homes within a decade. The prediction appears in the impact assessment for the application of Awaab's Law to private rentals, which sets out current and predicted statistics.
According to the impact assessment, there are some 4,827,000 households privately renting in England in 2026. The government expects that figure to rise substantially over the coming decade, with the sector expanding by around 500,000 homes.
The figures come from the government's own assessment of extending Awaab's Law — the rules on tackling hazards such as damp and mould — to the private rented sector. For letting agents and inventory clerks, the projected growth underlines the scale of the sector that any new regulatory requirements would cover.
The impact assessment sets out both current and predicted statistics for private renting in England, with the forecast of around 500,000 additional homes within a decade the headline figure.
No further detail on the methodology behind the prediction, or on how the growth would be distributed across regions or property types, is included in the source report.
Source: Letting Agent Today