A recent study found that the percentage of repossessions in the social housing sector were much higher than in the private rented sector. 57% social housing and only 15% private rented.
It is the private rented sector which is seen to be the unstable option for tenants, but the figures indicate that this is now a misconception.
How is the letting landscape transforming?
The study, by Simple Landlords Insurance, took into account the Ministry of Justice figures for first quarter of 2016. Other research by the insurance company revealed the proportion of repossessions in social housing has fallen over time while in the private rented sector they have increased, but only marginally.
In 1999, social housing repossessions stood at 83% and in 2015 were down to 62%. In the private rented sector repossessions increased from 9% to 13% in the same period.
But it is not only the eviction statistics which are changing. The Private Rented Sector has overtaken social housing in its size and scope and accounts for 19% of households – a massive 4.3 million – against social housing’s 17%. According to the English Housing Survey, the private rented sector has increased by 82% since 2004/5 when 11% were private renters (2.3 million). It grew by 3 million between 2012-13 and 2014-15.
So in this landscape, why do most tenancies end?
Generally, private landlords encourage tenants to stay as long as possible. According to figures from the Landlord’s Association, only 1% of tenants said their landlord terminated their last tenancy – with half (51%) saying their tenancy continued after the end of the fixed term and a third (33%) reporting their landlord renewed their tenancy once it had ended.
The English Housing Survey found that 78% of tenants reported that their last tenancy ended, because they simply wanted to move!
Let my property online from
£95 inc VAT
Sell my property online from
£795 inc VAT