Should the property market continue to stutter, the nation’s rental market could be in for a boom, as historic housing market trends show that a decline in property sales also leads to a boost to private rental market stock.
New research from Alliance Fund looked at both the sales and rental markets during the economic downturns seen during the Great Recession of the 2008/09 financial crisis and the more recent downturn spurred by the Covid pandemic.
The research shows that in 2008 when the Great Recession hit, property sales volumes across England fell by 49.3% on an annual basis. They then continued to fall by a further 3.1% the following year before rebounding by 6.4% in 2010.