For the UK, creating a link between the growth of the private rented sector and the delivery of new homes offers the opportunity to both increase the volume of homes built in the UK, and improve the experience of renters. 2016 will be a formative year in the growth of the institutionally backed build to rent sector.
According to Countrywide’s Monthly Lettings Index for May, the average cost of renting a one-bedroom home in Great Britain accounts for 48% of the post-tax income of an average young full-time worker. This compares to 45% in 2007. Rents have increased 27% since 2007 outpacing a 16% growth in incomes.
Countrywide PLC has announced plans to create a step-change in customer choice by becoming the first UK estate agency to combine its traditional strength of local expertise with the control and convenience of a new online service.