As reported by Landlord Today there appears to have been a major rise in tenants aged 50 and over.
There has been a major rise in the number of older tenants – mirrored by a fall in the number of younger ones. A new report, from the UK’s largest agent, take this out pls says that there has been a 6% annual rise in the number of private tenants aged 50-plus, while there has been a 7% decline in the number aged under 25.
This agent calls take out The decline is “unexpected”, but its possibly because younger people are moving back into the family home. Tenants aged 41 and over now make up nearly a third (29%) of all of those renting a property in England, Scotland and Wales.
The research which was based on analysing over 50,000 rental properties in its portfolio, also says that average rents have risen 1.2% year on year, and that the average length of a tenancy is now 19 months.
A separate survey, by a tenancy referencing and insurance firm , says that UK rents have reached an all-time high, at £811 a month. Removing London figures, the average cost of renting a home in the UK is £681 per month.
