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The Size and Role of the Private Rented Sector in South East London Provisional Findings

The Size and Role of the Private Rented Sector in South East London Provisional Findings. NIGEL MOORE Opinion Research Services. Background. SHMA Practice Guidance acknowledges the role of the private rented sector in meeting housing need

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The Size and Role of the Private Rented Sector in South East London Provisional Findings

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  1. The Size and Role of the Private Rented Sector in South East LondonProvisional Findings NIGEL MOORE Opinion Research Services

  2. Background SHMA Practice Guidance acknowledges the role of the private rented sector in meeting housing need • Research question in Chap 5, page 49 – ‘How is the private rented sector used to accommodate housing need?’; • Meeting need can take many forms– temporary accommodation, LHA support, cheap private rent for lower income households Survey of English Housing has shown sharp grow in private rented sector in London • 5.5% annual growth 2001-2007 Temporary accommodation and housing benefit receipt and in private rented sector has grown in London • Currently 250,000 households in HB support in PRS and 30,000 in TA Budget in June 2010 announced major changes to LHA • Seeking to reduce the cost of LHA • Changes will cap maximum LHA levels • Rents will be set at 30th, not current 50th percentile • Total benefit receipt capped at £500 per week

  3. Data Sources ORS conducted Household Surveys in all five SE London boroughs in 2007-2008 as part of SE London SHMA • 1,250-1,750 surveys per borough CPC conducted Stock Condition Survey for Lewisham in 2010 • 1,500 surveys undertaken in owner-occupied, private rented and RSL dwellings ORS conducted Letting Agent and Landlord Survey for Lewisham in 2010 • 250 surveys completed with landlords and letting agents • National Landlords Association allowed survey to go to London membership – a further 194 completed surveys outside Lewisham

  4. Households In Private Rented Sector Census 2001 Household Surveys 2007-08 (ORS)

  5. Lewisham Example: Tenure of Dwellings UK Census of Population 2001 Stock Condition Survey 2010 (CPC)

  6. Lewisham Stock – Private Rented (CPC 2010)

  7. Lewisham Landlord and Letting Agent Numbers Approximately 200 Letting Agents operating in Lewisham Estimating the number of landlords is more complicated • No need to register that you are a landlord Survey of English Housing 2001 interviewed landlords • Median number of properties owned was 4, mean figure was not reported ORS Survey of Landlords • Median number of properties owned was around 4 • Mean number in Lewisham was around 9 dwellings per landlord • Mean number in Rest of London was around 11 dwellings per landlord Total number of private rented dwellings is 31,300 (CPC) • Applying the mean number of dwellings owned provides an estimate of 3,000-3,500 landlords in Lewisham

  8. The Role of the Private Rented Sector Rugg Report (2008) distinguished the following segments to rental market • young professionals • students • the housing benefit/LHA market • slum rentals • tied housing • high‐income renters • immigrants • asylum seekers • temporary accommodation • regulated tenancies.

  9. Housing Benefit in PRS as a Share of Total Dwellings

  10. Lewisham: Households Type in Private Rent Approximate shares for groups occupying private rented sector: • High‐income renters (1% of PRS stock) • Students (7.5% of the PRS stock) • Temporary accommodation (1.5% of PRS stock) • Housing benefit supported (25% of the PRS stock) • Immigrants (25% of PRS stock) • Other groups (low income workers and young professionals - 40% of PRS stock)

  11. Any questions……. Nigel MooreOpinion Research ServicesNigel.Moore@ors.org.uk

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