Reported today by Trace Wise Ltd, major demographic changes are underway in the private rented sector in England, Scotland and Wales.
The number of people aged over 30 living in rented accommodation has increased +5.8% compared to January 2013. This age group now makes up 59.3% of all tenants.
From that pool, the number of tenants in the 41 to 50 age group grew more than any other over the same period of time, up +2.2% year-on-year and forming 16.2% of all tenants.
Although a growing number of over 30s and families are renting for longer, the opposite is true for the under 30s, this group that has declined -5.8% year-on-year. This is partly due to the launch of the “Help to Buy” scheme, which has helped this group get on the housing ladder.