The CBI believes the number of people renting in the private rented sector is expected to reach 1 in 5 (20%) by 2018. More than social housing and over double the amount of renters in 1999.
The CBI believes the number of people living in the private rented sector will continue to grow due to three major drivers: population growth and more new households, imbalances between demand and supply inflating the price of housing, and the cost of living slowing the ability of people to save to buy.
Private renting is now part of everyday life for so many people and businesses including almost daily discussions and debates in the House of Commons.
A generation of renters could be left behind as the housing debate focuses on home ownership warned the CBI, as it called for action to boost investment in the rental sector.
Amongst the measures the CBI is calling for are the Government to reduce the VAT rate on repair and renovation to lower costs, and councils to do more to drive investment from large institutions. Please follow this link for the full statement from the CBI.
Central Government launched the Build to Rent fund in December 2012 with the first schemes announced in April 2013. In addition to these projects there will be thousands of properties built and sold to Buy to Let investors that do not use the Build to Rent fund. In my opinion the Buy to Let investor with single properties or small portfolios will continue to be the backbone of supply to renters for many years to come.
The Buy to Let market in Northwich continues to offer investors opportunities for annual income and capital growth. Careful selection of the area to invest in, the property type and the tenant profile remains key to delivering investment goals. Gain information and seek advice from specialists before spending your hard earned money.
