Accent Lettings & Management
|Posted on 24 July, 2019 at 10:25|
The Office of National Statistics has released the English Housing Survey 2017 to 2018: private rented sector.
The finding of the report concluded: The majority of private renters are satisfied with their accommodation and tenure, though not as satisfied as owner occupiers.
* The majority (84%) of private renters were satisfied or very satisfied with their current accommodation, though this was not as high a propertion as owner occupiers (95%).
* Private renters had the lowest of satisfaction with tenure at 69%, compared with 98% pf owner occupiers.
Most private rented sector tenancies ended because the tenant wanted to move.
* Of those who had lived in their current home for less than three years, 72% moved house because they wanted to. . Main reasons for moving in the past three years were job related (18% of moves), to move to a better neighbourhood (16%) and to move to a larger home (13%).
* Of those who did not move solely by choice, reasons included being asked to move by landlord (10%), and moving due to the end of a fixed term tenancy (8%).
Compared with social renters and owner occupiers, private renters spend the highest proportion of their income on housing. Despite this, the majority said they found it easy to pay their rent.
* On average, private renters spent a third (33%) of their income on rent. This compares to 28% for social renters and 17% for mortgagors. The proportion of household income spent on rent was higher for private renters in London (42%) than for the rest of England (30%).
* Most private renters said they found it easy or very easy to pay their rent.
* One in five private renters (20%) received Housing Benefit. Of these, 85% reported that the benefit covered part of their rent.
One in five households in England live in the private rented sector, making it the second largest tenure.
* 4.5 million households live in the private rented sector in England, 19% of all households. By comparison, 17% (4.0 million) live in the social rented sector and 64% (14.8 million) are owner occupiers.
Nearly two thirds of private renters had no savings.
* 63% of private renters report having no savings. Just over a third (37%) reported having some savings. 11% of private renters had savings of £16,000 or more.
More than half of private renters thought they would eventually buy a home. A sizeable proportion of those expected to buy but did not currently have any savings.
*Over half (58%) of private renters thought they would eventually buy a home. Younger renters were more likely to think they would eventually become homeowners. 77% of those 16 to 24 thought they would buy, compared to 40% of those aged 45 to 64.
* Of the 42% of private renters who thought they would not eventually buy a home, most (64%) said it was because they could not afford to do so.
* There was no apparent link between those who thought they would eventually buy a home and those who had substantial savings that could go towards a deposit: 12% of those who eventually planned to buy had substanstial savings of £16,000 or more.Overall, 42% of those who intended to buy, had some savings.