The Government’s claim that the private rental market is ‘broken’ looks questionable after its latest English Housing Survey has revealed that 84% of renters are satisfied with their current accommodation.
After canvassing nearly 14,000 rented households, the survey also reveals that three quarters of tenants in the private sector are happy with repairs and maintenance of their rented home.
Renters are also spending a smaller proportion of their earnings on rent than they did four years ago, and the report also shows that the vast majority of tenants move out because they want to, rather than because they are being evicted.
“Today’s English Housing Survey dispels the myth that private renting means insecure tenancies and ever increasing costs,” says David Smith, Policy Director at the Residential Landlords Association (left).
Smith also says the survey should make the government stop and think about their proposed reform of eviction laws, which will see Section 21 ‘no excuse’ notices banned.
“It [also] shows that renters are spending less of their income on housing, at 33%, down from 34% the previous year and 36% in 2014/15, and are staying in their homes for over four years on average.”
The picture is not so rosy for younger renters. Paid less, rent takes up a greater proportion of their income and, on average, 16 to 24 olds spend 45% of their income on rent.
London also remains an extremely expensive rental market. Private sector tenants there spend 42% of their income on rent, regardless of their age.