Average age of UK tenants 'rising'

Rising house prices have led to an increase in the average age of people renting homes in the UK, research has shown.

According to renting website Spareroom.co.uk, tenants of shared flats or houses are now around 28-years-old - higher by three years from an average of 25 registered in 2006.

With lenders demanding an average of 25% deposits, many younger people are finding it difficult to get a foot on the property ladder.

Even once property prices started to fall, many potential buyers found they were still unable to afford their own place due to the high deposits lenders have been demanding since the credit crunch struck.

Paisley in Scotland has the oldest tenants at an average of nearly 40, followed by those in Motherwell at 33.4 and renters in Halifax at just over 33.

At the other end of the scale, people renting a shared home are the youngest in Dundee at an average of just over 22, with those in Aberdeen only slightly older at 22.4, while renters in Huddersfield are 23.2 on average.

There has also been an increase in the average age of people renting out rooms in their home, often in a bid to make ends meet.

The average age of live-in landlords has risen from 29-years-old to 33, during the past 18 months.

The group said it had seen a particularly big increase in the number of people aged over 65 who were renting out rooms in their home in order to increase their income, after seeing returns on their savings dive.

Oldham has the oldest live-in landlords at an average of 44.3, while Wigan has the youngest at just under 27.

Matt Hutchinson, director of Spareroom.co.uk, said: "The average UK tenant is getting older. These days, landlords are just as likely to have a house full of 30-something flat sharers as they are a group of university students.

"While most of us strive to be homeowners, the stark reality is that home-ownership continues to be out of reach for many people in this country.

"This is reflected in the rise in the average age of the renting population over the last five years."

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