Demand for Private Rental Properties may Never be Satisfied, says Leading Property Firm

15 October 2012 Categories: News

Demand for Private Rental Properties may Never be Satisfied, says Leading Property Firm

A research paper commissioned by expert property firm, Cluttons, has underlined the fact that the demand for private rental property still far outweighs the available supply in London and the other major cities. The report also predicts that the private rental sector will boom over the next decade but that the demand for rental properties will never be met.

Statistics within the report show that more than 400,000 new jobs have been created in London since 2000 and that now, more people work in the city than during the economic peak of 2007. It also predicted that job growth will continue over the next decade but in a lot of areas the number of jobs filled will be determined by the available housing.

Head of the residential consultancy division at Cluttons, Julian Briant, commented “Decision makers have to question whether London’s potential to maintain its position as a world city is being curtailed by such a limited supply of housing stock. The answer can only be yes.

“Despite this, a growing and vibrant London offers a wide range of residential opportunities for both investors and developers. Small private landlords will continue to play an important role in the capital, including creating more units from the existing stock.”