New tenant data has revealed that the average age of renters living in shared properties in London has risen five years since 2017.
The average age of a tenant within some 1,000 co-living properties run by one company was 23.9 years in 2017 but it’s now 28.2 years.
Built Asset Management’s portfolio in the capital is typically occupied by working professionals.
The data also reveals that renters are remaining in co-living property for much longer than before, rising by over 50 per cent from 12.1 months in 2017 to 18.3 months now.
Coupled renters sharing one room within a shared property has increased 36 per cent over the same three year period.
“The data really reflects the ever-increasing popularity of co-living as an attractive housing option for renters across the capital, with this form of accommodation attracting an increasingly senior and discerning demographic of professionals” says a BAM spokesman.
“Co-living is fast catching up with the single let market as an option for older professionals in increasingly upmarket professions; no doubt a reaction to the huge rise in quality and variety of co-living properties now on offer” he adds.