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Proportion of middle-aged renters doubles

11th May 2018

By Kate Brown

Middle aged renters - Knowles Warwick

Rising UK house prices have left many middle-age workers unable to afford a first home or buy a new home after a relationship break-up.

Figures from the Family Resources Survey by the Department for Work and Pensions revealed that the proportion of 35 to 54-year-olds who rent has nearly doubled in the last decade (since 2006/07). BBC analysis highlighted that the rise in renting is usually a result of debt, death or divorce. Overall, 20% of UK households surveyed were renting privately by 2017, compared to 28% who own with a mortgage. Whilst 34% own their home outright and 17% are in the social renting sector.

Concerns have been raised about the social and economic impact of these private tenants, as a focus on young first-time buyers may mean than older tenants risk being ignored.

 

Related Articles:

Middle income earners show decline in home ownership

Millennials set to rent for the rest of their lives

The return of low-deposit mortgages

 

 

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