Renter levels the same as 12 months ago says insurance broker
A study* from Cover4LetProperty has revealed that the amount of people living in rented property has remained at the same as level as January 2014, with nearly a third of Brits (32%) living in social or private rented property.
The landlord insurance specialist compared their latest findings with those carried out a year ago**, to see if there has been any change in home ownership and renting trends.
They found that:
- home ownership (with or without a mortgage) has increased by 12% since January 2014;
- 16% of Brits live with family and friends (down 12% from a year ago);
- the amount of women living in rented accommodation has increased from 15% to 39%, while there has been an 18% decrease (from 43% down to 25%) for men;
- those in the 40-49 age group are most likely to live in rented property;
- 89% of those in the age 50-59 age band live in their own property, up from 63% last year;
- previously, 40% of 18-29 year old's lived with family or friends - this has increased by 10% to 50%.
Ends
* Independent study carried out for Cover4LetProperty February 2015
**Independent study carried out for Cover4LetProperty January 2014
Contact:
Richard Burgess, MCIM, ACIEH, 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 nearly 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.
In 2011 we were proud to beat off some stiff competition for the award for Best Landlord Insurer in the prestigious The Money Awards.
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