The value of property owned by landlords in Britain will smash through the £1 trillion pound mark in mid-2015, says a new report.

Figures's from Kent Reliance, part of the OneSavings Bank Group, show that currently the total value of property in the private rented sector is £930.7bn, up £109.5bn compared to last year.

London accounts for 41% of this value followed by the South East (15%) which itself is larger than the North East, Wales, Yorkshire & the Humber, and the West Midlands combined.

New figures from Savills out last week suggest that 1.2 million more households in England and Wales will be private renters by 2019, meaning a quarter of all homes will be privately rented. Its report also predicts only 16 per cent of under 35s will be homeowners compared to 28 per cent now.

In terms of the overall UK market, Savills forecasts that price growth will slow to 2% next year, with London flatlining after outperforming every region.