A housing industry body says new survey results demonstrate that housing supply is not yet meeting demand.
The Royal Institute of Chartered Surveyors (Rics) commented on the government's latest English Housing Survey which found that a high proportion (59 per cent) of private renters expected to buy their own homes.
Though there has been a growth in the private rented sector, it does not indicate that fewer people want to own property, claims Rics.
Simon Rubinsohn, the chief economist at the organisation, said: “However, unless housing supply increases substantially over the next few years, the likelihood is that many of those aspiring to buy a home will continue to find such a move out of their reach.” - curly quotes
The English Housing Survey, produced by the Department of Local Government & Communities, found that the number of private renters had risen to just over 3 million from between 2008 and 2009.
However, there was only a small increase in the number of owner-occupiers, who fell from 14.8 million in 2005 to 14.6 million in the last two years.
See Also: Property News (6711)
Date Published: 23 February 2010
Related News
