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Number of deposits protected and their value is increasing across the UK

TDS Group has released its annual Statistical Briefing, providing valuable insights into the Private Rented Sector (PRS) across the UK. The report, which compiles data from a variety of sources, including Freedom of Information (FOI) and the Office for National Statistics, analyses information such as deposit values, dispute causes, and more.

According to the report, the number of deposits protected and their value is increasing across the UK.

In England and Wales, the number of deposits protected grew by 5% from the previous year, totalling 4,685,417. In Scotland, there was an increase of 5% to 259,779, and in Northern Ireland, deposit numbers at the end of March 2023 were 67,197, a 3% increase over 2022 numbers. The value of deposits has also increased, with England and Wales totalling £4.9bn, up by 8% from the previous year. Scotland and Northern Ireland increased by a similar percentage, to £194m in Scotland and £47m in NI.

The report also reveals that the three tenancy deposit schemes in England and Wales issued 36,609 adjudications in 2022-23, representing an increase of 6,912 from the previous year.

However, in Northern Ireland there was a 6% decrease from last year’s dispute figures, with 460 disputes recorded.

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