From ProperPR

Research from the game-changing property platform, Boomin, has revealed that the total value of homes in England has increased by 80% over the last decade – growth which has predominantly been driven by the private rental sector (PRS).

The research shows that: –

• The total value of the combined market (housing and rental) currently sits at £7.4trn having increased by 80% in value over the last decade. 

• The housing market is by far the largest when it comes to total market value at £4.6trn versus a total rental market value of £1.5trn.

• However, when analysing the growth of each market, the housing market has seen an increase of 75% in value over the last 10 years, while homes in the rental sector have seen an increase of 105% in market value. 

• On a regional level, London is home to the most valuable combined market (rental and housing) at £1.8trn, however, the capital doesn’t rank top when it comes to the total value of the housing market alone.

• It is, in fact, the South East that is home to the most valuable housing market with a total value of just over £1trn. 

• London does rank top where the 10 year value change is concerned, with the total market increasing by 97% in the last 10 years.

• London’s rental market has also grown by 124% while the housing market has increased by 90% – beating all other regions across the board.

See full release below:

Michael Bruce, CEO and Founder of Boomin says…. 

“We are a nation obsessed by property and home-ownership is one of the key milestones that we all strive to achieve in life. So it’s hardly surprising that the total value of the nation’s ownership market is over three times that of the rental market and home-ownership remains the predominant style of living for the vast majority.

An increase in both property stock and in house prices has also seen this value increase notably over the last decade, but the latter has also spurred a far greater increase across the private rental market. 

Many are now opting to rent for longer periods and until much later in life as the ever escalating cost of buying prices them out of the market. So, while the housing market still reigns supreme in terms of total size and value, there has been a far greater level of value growth across the private rental sector to accommodate this new way of living and this trend is apparent across all regions of the nation.

So those investing in property over the past decade have won hands down, but property investors and landlords especially it seems. London too is the big winner. Despite the stalled market in the capital of late, its overall momentum as a property market powerhouse means that it has seen the biggest value improvements in the last decade regardless.”