Over a third of housing stock is made up of rental properties as 2018 saw a steady rise in the number of rented accommodation available, according to a new study.
In London the number rises to nearly 60% for the final quarter of 2018, the research by consultancy TwentyCi shows.
The company described this as an “ongoing trend” in the capital as high property prices continue to inhibit the purchase market.
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But TwentyCi warned that the building boom could lead to supply outstripping demand in both sectors in London, particularly in the north and east of the city which could have an effect across the country.
They warned: “Notwithstanding Brexit, affordability in the capital will continue to act as a brake to revitalisation in the short to mid-term, with the ripples being felt across the whole of the UK economy.”
In other major cities in the UK, the number of rented properties was a largely more balanced split, with Newcastle being exactly an even 50/50.
Scottish cities bucked the trends, with Glasgow and Edinburgh’s rental market at 24% and 23% respectively.
The full list is:
Birmingham 40% rental and 60% sale;
Sheffield 43% / 57%;
Glasgow 24% / 76%;
Newcastle 50% / 50%;
Manchester 50% / 50%;
Nottingham 42% / 58%;
Cardiff 40% / 60%;
Edinburgh: 23% / 77%;
Leicester 40% / 60%;
Bristol 37% / 63%.
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