There is an upsurge in the numbers of tenants who are 50 and over whilst younger tenants are falling.  

A leading agent has highlighted, in its latest report, that tenants who are 50 plus have increased in the last twelve months by 6% but although this may be good news, it has to be tempered by the fact that tenants who are under 25 have decreased, over the same period, by 7%.

This may be a worrying trend for the decline in younger tenants and can be explained as larger numbers of this age group are moving back to their families’ homes.

The company’s report shows that private renters who are 41 and over account for 29% of total tenants in England, Scotland and Wales. These findings were taken from studying over 50,000 rental properties contained within their portfolio.

Further good news gleaned is that average rents have risen over the past year by 1.2% and that periods of renting a property is now on average 19 months in duration.

On the rent increase side this has been backed up by a separate survey, carried out by leading tenancy insurance and referencing company, reporting average UK rents are now the highest ever recorded at £811 a month. Even if you take the London figures out of the equation then the average monthly rent across the UK is £681.