Rents to rise faster than house prices, according to Savills
Rising demand from those unable to buy their own home and those reluctant to commit in the current market - means that rents will rise significantly more than house prices in the UK over the next five-years - according to Savills.
The company forecasts that private renting will account for one in five households by 2016 and that it is unlikely that supply will keep pace with demand for at least in the next five-years.
In prime London, rental growth of 20.5% is forecast for the next five years, and the average rental growth forecast over the same period will rise from 5.1% to 6.1%.
18 November 2011
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