Over a third of adults are now living in some sort of social or private rental accommodation.
New research from insurance firm Cover4LetProperty reveals that 38 per cent of adults are now living in private or social rented property – that’s 10 per cent more than just a year ago, and comes despite average rent rises in the private sector of around five per cent, claims the firm.
The firm also says 18 per cent of all tenants report their last rent increase was within the past six months with just over a third of those saying the rise was up to five per cent.
A smaller six per cent of those seeing a rise saw rent increase by between six and 10 per cent and two per cent claimed their rent rose by between 11 and 20 per cent.
The research also revealed that there were many more women living in rental accommodation to men, and that one in five adults who still lived at home with their parents paid no rent.