Recent rise in retired renters

Recent rise in retired renters

Whilst families may make up the biggest proportion of the rental market, the number of over-50's residing in rental accommodation has shot up over the last five years.

Research from Saga Home Insurance has revealed that one-third of people aged over 50 currently rent their property, a significant hike of over 25% since 2011.

The biggest increase of people living in rented accommodation has been those in the 50-54 age bracket.

Experts believe there are a number of social reasons that contribute to the rise in more senior renters. As well as the hikes in house prices forcing people to cash in on their properties in order to make the most of their retirement, the increase in divorces for couples over 50 has led to more and more single renters finding themselves back in the property market, having left the family home.

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