Major demographic changes are underway in the private rented sector in England, Scotland and Wales according to analysis from Countrywide Residential Lettings.
The number of people aged over 30 living in rented accommodation last month increased 5.8 per cent compared to January 2013. This age group now make up 59.3 per cent of all tenants. The number of tenants in the 41-to-50 age group grew more than any other over the same period of time, up 2.2 per year-on-year and forming 16.2 per cent of all tenants.
The number of families living in the private rented accommodation has also increased in most regions with London seeing the greatest growth of tenants with children (up six per cent) followed by the South West (up five per cent) and the North West (up three per cent).
Although a growing number of over-30s and families are renting for longer, the opposite is true for the under-30s, a group that has declined 5.8 per cent year-on-year. This is partly due to the launch of the Help to Buy scheme, which has helped thousands get on or move up the housing ladder.
According to the Office of National Statistics, 22 per cent of 20-34 year olds in London are living in the family home, up from 18 per cent a decade ago. However, London has the lowest percentage of young adults living with their parents of anywhere in the country.
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