The latest statistical briefing from the Tenancy Deposit Scheme has just been published.
It shows that at the end of March 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 £3.567bn, an increase of £379m over the year.
However, the TDS said the average value of deposits protected has stayed relatively static and at the end of March was £1,041.
This compares with £979 four years ago.
The TDS figure for the average deposit, of over £1,000, is higher than the £970.48 quoted by the Deposit Protection Scheme.
Interestingly, the TDS average deposit four years ago remains higher than the average deposit protected by the DPS now.
The DPS also claims that deposits have been rising quite steeply.
A statistical briefing is available for the TDS custodial and insured websites at https://www.tenancydepositscheme.com/annual-reports.html
Comments (1)
The fact that £3.5billion is held in deposits when in 97% of cases deposits are simply handed back is popostorous! There are much more efficient systems to mitigate risk which have been successfully deployed in other sectors but yet again the property sector remains reluctant to change.