The report, titled “The Economic Contribution of the Private Rented Sector”, also displays how the private rental sector is supporting employment opportunities in the region. It shows that the North West’s PRS supports 34,000 jobs both directly and indirectly over various industries in the area.
According to the NRLA, this clearly demonstrates the importance of the UK’s private rental sector when it comes to driving investment and employment across the country.
Ben Beadle, Chief Executive of the NRLA, commented: “With an unprecedented supply and demand crisis continuing to unfold across the UK, these findings demonstrate clearly why a thriving private rented sector is in the interests of both landlords and tenants.
“A healthy, dynamic private rental market produces not only much-needed rental properties at what is a tough time for tenants, it also helps sustain employment across a wider range of different industries. This report should serve as a reminder to the Government that encouraging growth in the market helps meet housing demand and creates more jobs and investment across the country.”
