Property rentals decrease as more people become homeowners
Updated research* from landlord insurance specialists Cover4LetProperty has revealed that over a quarter of the adult population (28%) are living in private or social rented property – this is a 16% decrease since May 2013.
This supports the recent government study that highlights how homeownership levels have risen year-on-year for the first time since 2003.
The research from www.cover4letproperty.co.uk also revealed that:
- double the amount of women (40%) live in rented accommodation compared to men (20%);
- 57% of those aged 60+ live in rented property;
- 13% of those in the 40-49 age band have recently moved back home citing a lack of finances as the cause;
- 38% of those aged 40-49 have always lived at home;
- nearly a quarter (24%) of Brits living at home do not pay rent;
- the most prolific renters (67%) are in the income band £10,000-£19,999.
*Independent studies carried out for Cover4LetProperty May 2013 and May 2016 by Usurv
Richard Burgess, MCIM, ACIEH, Cert CII Director at Cover4LetProperty, telephone: 0845 863 9558 or email: firstname.lastname@example.org
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