The private rental sector is home to 20% of English households

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The private rental sector is home to 20% of English households – up from 13% just ten years ago. In London the proportion is much higher at 30% of households, with the proportion also rising rapidly over the last ten years (up from 18%). We dug deep into Dataloft’s rent paid dataset*, to reveal more about this important layer of the housing market.

The rental affordability rule of thumb: don’t expect tenants to pay more than 30% of their earnings on rent, appears to be substantiated by the numbers.

The typical London tenant is in their twenties (51% are in their twenties or younger) and prefers to live centrally. Once tenants know an area they are likely to stick with it (over 40% of tenants move less than 2 miles).

Average London rents fell marginally in 2017 (-0.8% to Q4 2017 on the same quarter a year earlier) but there are marked differences between property types and transport zones. For instance, the rent for a one bed flat rose by 2.8% over the year.

* Based on an extensive dataset gathered by tenant referencing company Rent4Sure.

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George Tatham-Losh

Since forming the business in 2009, our founder, George Tatham-Losh, has become highly regarded as the local go to expert for advice on maximising property values and getting the most out of property investments, regularly speaking at events and holding well attended seminars. Born and raised in Cheltenham, George knows the town and County like no other and knows what works in the area. Alongside George is a specialist team of agents with a wealth of experience to help you sell, buy, let or rent property in Gloucestershire.

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