Savills has revealed in its Spring 2014 survey, conducted by YouGov and entitled 'What Do Tenants Really Want?', that it expects the private rented sector in England to grow from 4.14m today to 5.7m by 2018.
The survey questioned 2,300 tenants that are currently renting in the private sector in major cities across England and Wales, with 1,000 of the respondents living in London, in an effort to gather information about the current structure of the rental market.
The report states: 'We have seen a tenure shift towards private renting. The size of the private rented sector has been increasing rapidly since the early 1990s. Despite the rise in demand, the supply of homes to rent remains constrained particularly in well-connected city centres where you find the highest concentrations of people renting privately.
'According to the 2011 Census, the biggest group of renters (33%) are aged between 25 and 34. They are closely followed by those aged between 35 and 44 which account for 24% of those renting privately.'
Below are some highlights from the report: