Private Rented Sector Larger Than Thought
July 8, 2011 3 Comments
On Tuesday 5 July, the Department for Communities and Local Government (DCLG) published new estimates of the size of the Private Rented Sector and Owner Occupied tenures in England. It results from DCLG implementing an improved methodology, recommended by the Office for National Statistics (ONS).
The new methodology takes better account of the vacancy rates in each
of the private sector tenures, and figures dating back to 2003 have been updated.
The revised figures show that in 2011 there were in fact 850,000 homes in the private rented sector in London, representing 25.7% of London’s housing stock, more than previously thought. Revised figures for England as a whole show that in 2010, the PRS accounted for 17.3% of housing with owner occupied tenure dropping to 65.2% from a peak of 70% in 2002.