27% jump in private rented property in Teddington since 2001

It seems a distant memory three years ago when we were filling in our census returns, but now the final figures for each individual town and Council area have been released. It all makes for some very interesting reading especially around the property sections, so let’s look at the Teddington figures.

Currently, of the 4,616 properties in Teddington, 67% are owned and 23.6% rented. Compare that to 2001 when there were only 17.9% renting rather than owning. So, it looks like we really are seeing a shift towards renting rather than owning, even in an affluent town such as Teddington.

The reason is that over those 10 years, 204 new homes were built or created in Teddington and guess what, most were bought for buy to let. In 2001, 790 houses in Teddington were rented and as we discussed earlier, by 2011, that had risen to 1,087 households .. a huge 27% jump in private rented property in Teddington over those 10 years. Would you have guessed at that because I know I wouldn't?!

As in the rest of the UK, locally more people own their home than 10 years ago (although, out of all the 347 UK local authorities, Richmond Borough is ranked 46 in terms of the highest percentage of rented property).

The demand for rental property will steadily continue to rise as the UK turns into a more European model of home ownership.

......apologies for todays picture - couldn't resist!!

Rebecca Smith