The Percentage of Homes Privately Rented in Plymouth
Where do people rent the most across the UK?
And why it matters for anyone living in Plymouth
The census data on private renting is more revealing than most people realise. It shows how different the housing landscape is from one part of the UK to another and why every homeowner, landlord and buyer in Plymouth should care about the trend.
Here is the list in order from highest to lowest.
· London 30%
· South West 19.7%
· Yorkshire and the Humber 19.4%
· South East 19.2%
· North West 19.2%
· East Midlands 18.7%
· East Anglia 18.2%
· West Midlands 17.9%
· North East 17.2%
· Northern Ireland 17.2%
· Wales 17%
· Scotland 12.4%
London and much of the South have the some of strongest private rented sectors. That is no surprise. Higher house prices often push more households into renting. It also reflects how mobile the population is in those regions with people moving for work, education and lifestyle choices.
As you move further north the proportion steadily reduces. This does not mean renting is unimportant. It simply shows that the mix of housing tenure changes. Some areas have stronger home ownership patterns and others have a larger social housing footprint.
Why should anyone in Plymouth care about this?
Because the balance between owners and renters affects supply, demand, pricing, yields, time on the market and even the type of homes being built. If the private rented sector grows in Plymouth it influences investor activity and the number of homes available for first time buyers. If it shrinks it restricts choice for tenants and places more pressure on affordability.
Understanding these shifts helps people make better decisions. Whether you are thinking of selling, letting or investing in Plymouth it always pays to know how the national picture connects to what is happening on your own doorstep
Visit our website here to learn more about Smeaton Homes.