Rent and mortgages in the balance

A recent report has showed that the number of private rental households will outnumber mortgaged households in under a decade.

The forecast from NatWest predicts that there will be more private renters than mortgaged home owners by 2025.

The number of mortgaged households will be just under 6m, while the number of households in private rental accommodation will be just slightly more, at 6m.

In context, these figures both fail to match under outright home ownership which has been the biggest form of housing tenure in the UK since 2013.

By 2024, about 9m households will own their homes outright. According to NatWest, the number of households in social rented accommodation will drop slightly to go under the 4m mark.