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Tenants growing older

Robyn Hall

February 10, 2014

Over 30s now equate to 59.3% of all tenants, as renters between 41-50 increased by 2.2% in a year.

Help to Buy has boosted under 30s demographic, as the number of Help to Buy Equity Loan sales in the North East for example equated to 27% of all new properties built.

Contrastingly in London Help to Buy Equity loans were equal to just 7% of new housing completions.

Nick Dunning, group commercial director at Countrywide, said: “The strength of the housing market in London and the South East means that developers don’t have to rely as much on Help to Buy to sell homes.”

Although average monthly rents increased in 8 out of 10 regions, in Scotland they grew by a staggering 11.7% in a year.

Dunning added: “The large increase in rents in Scotland over the past year could partly be due to the fact that tenant fees can no longer be charged in Scotland.

“The cost of carrying out the work by the letting agent is instead passed onto the landlord who subsequently covers their costs by charging higher rents.”

London saw the greatest increase in tenants living with children meanwhile, up 6% year-on-year.

Arrears have fallen year-on-year in all regions apart from Scotland where they increased 2.6%.


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