At the end of March 2016 there were a total of 3.426m deposits protected across England and Wales
The latest statistical briefing from the Tenancy Deposit Scheme has just been published. It shows that at the end of March 2016 there were a total of 3.426m deposits protected across England and Wales; an increase of some 360,000 over the year.
The total value of the deposits being protected amounts to a staggering £3.567bn, an increase of £379m over the year.
The average value of deposits protected, however, stayed static and at the 31 March 2016 the average deposit was £1,041. This compares to £979 four years ago.
Steve Harriott (left), Chief Executive of the Tenancy Deposit Scheme and the new TDS Custodial scheme said:
“These figures demonstrate the continuing growth of the private rented sector, which is now larger than the social housing sector in England and Wales.
The huge number of deposits being paid by tenants at a value of some £3.5bn demonstrates the need for tenancy deposit schemes to ensure that deposits are protected for tenants.