Renting is no longer a young person’s game. Many of those in rented apartments are over 46.
Many more ‘silver renters’ are over 55; similar in numbers to those under 25.
In the survey, a significant number of 18 – 25-year-olds claimed they were satisfied with renting, with and a large number want to own their own home in the future.
These numbers reversed for those aged 55 and above, with those saying they were happy with renting and only few saying they would like to own a house in the future.
The rise of the ‘silver renter’ may seem surprising, but increasingly thousands of people have turned to the private rental sector as the most convenient option available to them, following a change in personal circumstance.
Many of the younger tenants in our survey have aspirations to own their own home in the future.
Some feel that if the flexibility of renting can be combined with the stability and reassurance of longer residencies, and fewer restrictions around making the space ‘feel like home’, for many, renting would be considered a better long-term, as well as short-term, option.