New figures from the office of National Statistics are set to reassure landlords of the vital importance the BTL sector plays in the UK housing market.

Amid fresh data on house prices, home ownership levels and rising rents is the news that overall levels of house building in the UK have fallen drastically in the UK – compared to more than 250,000 in 1980.

House building slumped to just over 100,000 un 2012/13 – it’s lowest level in the UK for any peacetime since the 1920’s.

Since the early 1980’s the number of dwellings completed by housing associations and local authorities fell below 50,000 – and has failed to rise since.

Despite government initiatives, demand has far outstripped supply, with predictable consequences for house prices and rents.

House prices have rocketed by 8.7% per cent over the last year to reach an average of £214,000 in June 2016 – surpassing the pre-economic downturn peak of £190,000 from September 2007.

The per cent of 25 to 29 year olds who are home-owners also fell sharply from 55 per cent in 1996 to just 29 per cent in 2015.

Over the same period, the proportion of renters aged 30 to 34 soared from 32 per cent to a staggering 45 per cent.

Across the UK, rental prices have risen in line with the growing demand for affordable rented accommodation.

Over the last year rental prices have grown by 2.4 per cent; price inflation was stronger in the South East (3.5 per cent), the East of England (3.1 per cent), London (3 per cent) and the East Midlands (2.5 per cent) but was far weaker in regions such as Scotland (0.2 per cent) and the North East ( 0.9 per cent) and in Wales rental prices were flat.

As demand from tenants continues to increase, landlords are perfectly placed to reap the rewards and provide a vital service.