Private rented sector facts…… The press don’t want you to know

The English Housing Survey was released this month and provides some very interesting and contradictory facts, if you are to believe recent press reports.

The National Housing survey is a detailed insight into the UKs housing circumstances and includes property condition as well as energy efficiency.

1 in 5 households in the UK live in Private rented accommodation, compared to 64% owner occupier and only 17% living in social rented accommodation.

Profile of a private renter

The average age of a private renting tenant is 40yrs old and 60% are male, single households make up 25% while couples with children occupy 22% of the sector. Surprisingly on 11% live in shared accommodation or HMOs.

6% of those surveyed were living in overcrowded accommodation.

65% are in full time employment with 12% in part time work, with the average weekly income of £583, 83% identified as white with 74% stating Britsh or Irish.

50% of private renters were issued with a fixed term 12 month tenancy and on average stayed in the same property for 4.1years

Satisfaction guaranteed

Contrary to many press reports the survey states that a staggering 84% of private renters were either satisfied or very satisfied with their accommodation, however those in private rented properties spend the highest % of their household income on their housing cost, with Londoners spending on average 42% of their monthly income with the rest of the UK spending 33%.
Compared to social tenants who only spent on average 28% and homeowners with a mortgage as little as 17%.

Of those surveyed, only 20% of private renters were in receipt of Housing Benefit or Universal credit Housing Element.

Surprisingly only 76% of private renters said they paid a deposit at the start of their tenancy, with only 73% confirming their deposit was protected, worryingly 20% didn’t know if their deposit was protected.

Only 11% of private rented had savings over £16,000 with 63% having no savings and only 58% of private renters believed they would eventually buy their own property.

Disrepairs

In 2017-18 disrepair was worse in private rented accommodation with 25% of homes failing to meet the Decent Homes Standard compared with only 13% of social housing and according to the Housing Health and Safety Rating System (HHSRS) 14% of private rented homes had a category 1 hazards compared to only 6% in social housing. Despite this 73% of private tenants were satisfied with repairs.