The firm noted that the sector has grown by almost a fifth in the last decade, rising from 4.1 million homes to a little under 4.9 million today.
The fastest growth in the private rented sector has taken place in the South West. Here, the stock levels have risen by a third (31.2 per cent), from 404,768 to 530,975 properties.
This is followed by the West Midlands, which has grown by just over a quarter (25.4 per cent), while in London the market has increased in size by 21.7 per cent.
Based on the growth seen over the previous ten years, Ocasa suggested that between today and 2025, it’s likely that an additional 313,000 homes will be added to the private rental sector, taking the total to just under 5.2 million.
It added that the biggest increases are likely to be seen in London, the South East and the North West.
Jack Godby, sales and marketing director at Ocasa, accused the government of trying to “dampen” the private rented sector by making buy to let less cost effective.
He continued: “But there is still a huge need for rented homes in England – not everyone can or wants to buy their own home.
“Perhaps the new PM’s latest tax incentives will give a boost to the market, but in order to ensure that there are enough good homes for those who need them, more still needs to be done to make buy-to-let more attractive for landlords.”
