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.

Ends

*Independent studies carried out for Cover4LetProperty May 2013 and May 2016 by Usurv

Contact:

Richard Burgess, MCIM, ACIEH, Cert CII Director at Cover4LetProperty, telephone: 0845 863 9558 or email: richardb@alanblunden.co.uk

About Cover4LetProperty:

With roots going back to 1946, our clients can benefit from 70 years’ of experience in the landlord insurance marketplace. We are award-winning independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.

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About Us

About Cover4LetProperty With roots going back to 1946, our clients can benefit from many years’ of experience in the landlord insurance marketplace. We are award-winning independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.

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Quick facts

This supports the recent government study that highlights how homeownership levels have risen year-on-year for the first time since 2003
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• double the amount of women (40%) live in rented accommodation compared to men (20%); • 38% of those aged 40-49 have always lived at home; • nearly a quarter (24%) of Brits living at home do not pay rent;
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• 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;
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Quotes

Our research 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
Richard Burgess, Director at Cover4LetProperty
The amount of renters has dropped by 16% since 2013 according to our study
Richard Burgess, Director at Cover4LetProperty
Nearly a quarter (24%) of Brits living at home do not pay rent
Richard Burgess, Director at Cover4LetProperty