Your Move estate agents have revealed that almost half of tenants living in private rental accommodation across the UK are aged over 46, signalling the rise of the ‘Silver Renter’.
36,500 participants were involved in teh research which was commissioned to provide insights into the 4.5 million privately rented households in the UK – a number which is expected to grow to 6 million over the next few years.
The research found that 18% of renters were over the age of 55, with another 22% of tenants belonging to the 46-55 age group. Surprisingly, just 39% of those in private rental accommodation were under 35.
Of those surveyed, 25% of 18 – 25 year olds claimed they were satisfied with renting, with 80% wanting to own their own home in the future. These numbers reversed for those aged 55 and above, with almost half (46%) stating they were happy with renting and only 19% saying they would like to own a house in the future. Across all age groups, 81% of tenants said that renting suited their lifestyle – whether that lifestyle choice was on a permanent basis, or just for a few years.
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