Renting numbers set to rise Published: 16/06/2008

The Centre for Cities has said the government should do more to meet the growing demand for rented properties.

With the British housing market feeling the effects of the credit crunch, mortgage approvals falling and many first-time buyers struggling to get onto the property ladder, the demand for rented properties has risen. The centre has even indicated that changes will need to be made to meet demand.

Dermot Finch, director of the Centre for Cities, said: "The government is focusing too much on home ownership, and not enough on homes for rent. Demand for rented housing is increasing all the time but supply isn't keeping up. Unless this changes, the young and job movers will have difficulties finding somewhere decent to live."

He added: "To fix this, Caroline Flint and the new Homes & Communities Agency should encourage more institutional investment in high-quality, private-rented housing."

The study suggests that by the current pattern one in five houses will need to be a rented property by 2021.

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