I had an interesting telephone conversation with a local property developer and landlord. Amongst other matters we began to talk about the future of the Walsall property market. He wanted to know my thoughts on the future of the Private Rental Sector (PRS) nationally and especially locally. As usual I had an opinion and it sounded like he wanted to hear it. Below are my thoughts on how I think the next 10 years will play out and why I think the PRS is set to grow even further in Walsall.
Thatcher’s government introduced the right to buy of council homes but that’s not where the British obsession for owning your own home began. Prior to WW2 the aspiration of the people wasn’t to buy but to rent. Looking at the country as a whole, in 1951, 30% of residential properties were owner occupied, then every ten years that rose incrementally to 39% by 1961, 51% by 1971, 58% by 1981, 68% by 2001 but after that, it dropped to 63.4% by 2011 and continues to drop today.
Walsall Property Blog 
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