Silver Renters - over-60s seen as growing lettings market

The launch of a new collection of high end homes aimed at renters aged 60-plus has triggered enthusiastic responses from agents.

Developer Pegasus has launched a scheme of 10 luxury flats in Hampstead, north London.

It’s called Fitzjohn’s and includes flats ranging from a 1353 square feet two-bedroom ground floor apartment to a 1969 square feet three-bedroom third floor apartment.

Prices start at £8,620 pcm.

Francesca Fox, Lettings Manager at London agency Beauchamp Estates, says: “We are currently seeing a strong demand for quality rental accommodation for those over 60 with a distinct lack of opportunities currently on the market. 

“Fitzjohn’s provides …  the ability to ‘try before you buy’ allowing residents to experience all that Hampstead Village has to offer before making any permanent commitments - something we are seeing demand for more and more.”                                     

Adam Nachman, Lettings Area Manager at another agency - Goldschmidt & Howland - says: “What we have witnessed in the later living rental market is that the flexibility that renting provides is the main the reason for people over 60 choosing to rent. 

“… Fitzjohn’s provides an opportunity to bridge a very niche gap in the market for those in later life looking for a luxurious block with an abundance of fabulous amenities in a central village location.”

As The Centre for Ageing Better (CfAB) predicts one third of people over 60 could be living in privately rented accommodation by 2040.

Recent market research has shown a sharp rise in the over-60’s rental market over the past few years, with the Government’s English Housing Survery stating that around 371,000 people in later life are currently in private rented accommodation.