Increase in Brits living in rented accommodation while 1 in 5 live with parents

Updated research* from landlord insurance specialists Cover4LetProperty has revealed that over a third of the adult population (38%) are now living in private or social rented property – a 10% increase since May 2016 and despite average rental rises of up to 5%.

The data showed that:

• 1 in 5 private renters said their last rental rise was over a year ago;
• 18% said their last rent increase was within the last 6 months;
• just over a third of renters (34%) reported that at their last rent rise, the amount increased by up to 5%;
• 6% saw a rise of between 6-10%;
• 2% said their rent increased by 11-20%.

The research also revealed that:

• one and half times the amount of women (45%) live in rented accommodation compared to men (29%);
• 56% of those aged 40-49 live in rented property;
• 25% of those aged 30-39 have always lived at home;
• 1 in 5 Brits (20%) living at home do not pay rent.

Ends

*Independent study carried out for Cover4LetProperty April 2017 by Usurv

Contact:

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