The changing lifestyles of the under-35s and a shift in sentiment towards property ownership are set to contribute to a surge in the UK's Private Rental Sector (PRS), according to recent research by Savills.

In Savills fourth quarter residential property focus report, the firm says that 'constraining factors cap the prospects for price growth across the UK', and that 'mortgage regulation will restrict people's ability to get on or move up the housing ladder, whatever the banks and building societies may aspire to lend.'

Lucian Cook at Savills research says: "Across the UK we expect prices to rise by 19.3% in the five years to the end of 2019 on a nominal basis, meaning that after inflation, real house price growth will be marginal."

London is expected to rise at almost half that rate, up by 10.3% over the next five years as 'affordability constraints are limiting capacity for price growth.'