Posted on Tuesday, April 18, 2023
- The number of households in England and Wales increased by 6% between 2011 and 2021, the number in the private rented sector by close to 20%. There are now more than 5 million households in the sector.
- Across all age groups the proportion of households in the private rented sector has increased. Proportionally the largest increases are evident in households headed by those age 35 and above.
- More than one in three households in the 35-49 age group is now in the private rented sector. Back in 2011 less than 25% of households in the private rented sector were headed by someone over the age of 50, today that figure is nearly 30%.
- Research indicates that for the majority of family renters and renters aged 45+ their ideal lease length is over two years, with one in five willing to pay more to secure a property for a longer period (Property Academy Renter Survey, 2022). Source: Dataloft, 2011 and 2021 census, based on household reference person