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Expect 1 Million More PRS Tenants In 5 Years

Expect 1 Million More PRS Tenants In 5 Years

UK PRS should prepare for a million more tenants, say Savills

Giant UK estate agency, Savills are predicting a massive increase in the number of tenants living in the UK private rented sector (PRS) over the next five years.

The company is also predicting that more UK housing associations will seize upon a fantastic business opportunity and that these associations will add to increasing competition for private rented sector landlords.

Savills say there were 4.3 million tenanted households in the private rented sector in the UK during 2011 and tenant demand remains strong despite the recent upturn in the UK economy and recovering housing market, leading to the prediction of at least another 1 Miliion additional tenancies being required over the next five years.

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