27th
Jun 2016
A poll claims that since 2012 the number of people who have retired and are now living in rented property has increased by 200,000.
Those who are 65 years and over living in rented homes, has increased by 13% over the last four years, there is a high concentration of 17% in the south east with just 3% in London. Throughout the North West 15% of retirees live in rental accommodation, the West Midlands have 8%, whilst East midlands and North East both have 4%.
Surprisingly numbers of landlords who renting out properties to this age group have dropped and since 2012 it has fallen from 19% to 9%, which could be down to increasing competition for tenants.
Carolyn Uphill, the spokesperson the organisation that held the poll, said: “More and more people are turning to private rented housing at every stage of their lives, including in retirement. Landlords appreciate the stability and assurances often provided by older households, but are finding it increasingly difficult to build businesses around the needs of potentially vulnerable tenants. Successive cuts to the welfare budget, uncertainty about pension provisions, and the devastating impact of the Government’s tax changes are likely to mean that private landlords will soon be unable provide homes in high cost areas like Central London for anyone without a well-paying job.
“As the proportion of retired renters continues to grow there’s a real worry that homes won’t be available in the private sector, forcing people to look further afield – leaving communities they have known and contributed to for decades.”
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