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%.
* Independent study carried out for Cover4LetProperty February 2015
**Independent study carried out for Cover4LetProperty January 2014
Richard Burgess, MCIM, ACIEH, Director at Cover4LetProperty, telephone: 0845 863 9558 or email: firstname.lastname@example.org
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