At the time of publication of the inaugural edition of the Buy to Let Britain report, we had all become used to reading about “Generation Rent”. The lack of high LTV and affordable mortgage finance since the credit crunch had taken its toll on home ownership. Difficult conditions for first-time buyers and sluggish wage growth had been compounded by house prices climbing once more.
But the change didn’t happen overnight. Since the start of 2001, two million households had been added to the private rented sector. The report examined the dramatic rise of private renting, and revealed the sheer size of an industry that exists to support the growing tenant population. “Generation Let” comprised 1.4 million landlords at the time of publication.
Our first issue looked back at how the private rented sector had grown in both volume and value since the start of the 21st century, and in particular tracking performance since the last economic boom in 2007, analysing data between 2001 and the second quarter of this year.
We provided detail on the yields and annual returns landlords enjoyed, and the amount of rental income generated across Great Britain. All the stats were broken down by region, revealing how different parts of the country have developed in very different ways.