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When everyone has a home

028 9024 5640: Housing & Debt Helpline for Northern Ireland

PwC predicts fall in homeownership and greater use of PRS

A report from Pricewaterhouse Coopers suggests that Northern Ireland could have amongst the lowest level of homeownership in the UK by 2025.   PwC predicts that renting privately is likely to boom in the coming decade, particularly amongst 20 to 39 year olds. 

The drivers behind the anticipated growth in private renting are relatively low levels of housebuilding and a more youthful demographic.   The cost of buying a home in Northern Ireland increased by 10.3% in the year to October 2015 while the Royal Insitution of Chartered Surveyors has warned that supply issues could force prices up further.  RICS has predicted that rents will increase alongside property sale prices. 

PricewaterhouseCoopers has predicted that these factors will result in a 14% fall in homeownership and a 20% rise in private renting by 2025. 

Reviewing the private rented sector

Housing Rights has just submitted its response to the Department for Social Development's review of the private rented sector.  We've argued that there is a need for many real changes to how the private rented sector is regulated in Northern Ireland and chief amongst our requests are

Renting privately in Northern Ireland

Find out more about the current protection afforded to private tenants and landlords in Northern Ireland and about the laws that apply by attending Renting Private in NI: The Definitive Guide. You can find out more about planned policy and legislative changes that will impact on the private rented sector at our Annual Housing Law Update, a regular briefing session covering the latest and forthcoming changes to housing policy and legislation. 

Tagged In

Private Tenancies, Affordability

This article was written on 16 February 2016. It should not be relied on as a statement of the current law or policy position. For help with housing issues please contact our helpline on 028 9024 5640 or use our online chat service at www.housingadviceNI.org.