At an annual property seminar hosted by Midlands law firm Lodders Solicitors, delegates and speakers discussed the private rental sector and its potential to solve the UK’s housing problems.
The seminar discussed how the UK were building fewer residential homes and the short supply of homes has led to an opening for the private rented sector to flourish. Coupled with a change in lifestyle of people aged under 35, the seminar believes that more people are prioritising the quality of the life in terms of location and access to amenities, bars, gyms etc over the traditional approach of investing in bricks and mortar.
With constraints on mortgages continuing to hinder the ownership market, the under 35 demographic of the population are becoming increasingly drawn to the opportunities and independence granted by the private rented sector.
PRS Capital are optimistic about the opportunities that the changes in views towards rental properties. As leaders in the private rented sector our portfolio supports the creation of lifestyle developments, rather than simply providing properties with no infrastructure or community considered in the design.
PRS Capital’s CEO Dean Thompson, a fierce advocate of regeneration, believes that “the private rented sector provides the UK with the opportunity to deliver much needed development and infrastructure in areas previously overlooked by the private residential sector. By working strategically with local authorities, the private rented sector can support regional development helping stimulate economic growth and regeneration across the UK”.