Older people aged 40 and above are now almost twice as likely to be renting their home from a private landlord than 10 years ago, according to BBC research.
Analysis by Hometrack’s insight director Richard Donnell, who worked with the BBC on the research, says a focus on young first-time buyers means older tenants, often with children, risk being ignored by the private rental sector.
The research reveals:
- The proportion of 35 to 54-year-olds who live as private tenants has nearly doubled in 10 years since 2006-07;
- Renting among all age groups is now more likely to be from a private landlord than from a council or housing association;
- A particular increase in renting among 45 to 50-year-olds, sometimes as a result of death, debt or divorce;
- Single parents with children who rent are a major concern among debt charities.
Donnell says he is concerned at the potential strain on the benefits system in 15 to 20 years' time when some of these older tenants require financial assistance to pay the rent during retirement.
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Pay people not to work and of course they will end up renting.
Instead of paying excessive benefits we should be creating more jobs to get people back into work so that they can buy their own homes.
I'm not sure I understand your reasoning. It's becoming almost impossible for people on benefits to rent PRS properties which means that those in private rental properties must be working. You obviously have no idea of the level of benefits paid to people who don't work. I suggest you check your facts before posting unhelpful comments in future.
UK benefits are some of the lowest in Europe - so ''Gordon Brown'' above (unlike THE Gordon Brown) does not know what he is talking about and I imagine gets his ''facts'' from the Daily Mail. People IN work cannot afford to buy homes, let alone those who are unemployed. You also assume that benefits = unemployed - it doesn't. Due to low wages paid by many employers, the government has to ''top up'' low wages through tax credits and benefits. Corporate welfare.
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