The changing face of UK renting

The changing face of UK renting

The tradition of getting married and moving into a purchased home to raise children is becoming a thing of the past as new research from flatsharing marketplace Weroom.com reveals that a quarter of British renters are getting married (23%) and having children (25%) whilst living in rented properties rather than setting up their own homes.

The findings show how modern lifetime milestones experiences and expectations are dramatically different to those a generation ago. The cumulative effects of the acute housing shortage in the UK, the rising cost of living and societal change means that over a third (35%) of young Brits aged 25-34 years old now expect to, or have, become a parent whilst renting.

More than 1 in 10 (13%) British renters live with children in their house or flatshare, of which the majority (80%) are babies and toddlers aged 0-3 years old.

Guido Maschhaupt, a student living in a London flatshare, commented: “I live with a married couple and their 7-month old baby, as well as two other people. I flatshare because it is cheaper – it is almost impossible to finance an entire flat in London. I deliberately chose not to live with other students as my course is very demanding but don't experience many negatives living with a baby but house parties are pretty much out of the question!”


Looking at the UK as a whole, renters are experiencing key lifetime milestones in their house and flatshares, with 36% moving in with their partners for the first time, 22% getting married and 9% getting divorced whilst living with housemates.
 
Whereas a young couple would conventionally marry and then move into a purchased home to raise a family, a third (34%) of Brits now rent in order to save up for their next steps: marriage, children and their own property. That said, just under a third (27%) of Brits living in rental accommodation consider flatsharing to be a long term property solution for them.
 
Tom, 27, and Mel, 25, have been together for three and a half year and live together in a flatshare in London, added: “We would like to live on our own but it’s just not affordable for us at the moment, buying even less so. In the long term, when our financial situation allows, we will hopefully be able to rent an apartment for ourselves but for now we will stay in our flatshare.”

There is also a growing trend for older people living in flatshares the UK, with 29% of over 55s surveyed still renting when they reach their retirement and 28% of Brits living with people over the age of 40.

Thomas Villeneuve, CEO of Weroom, commented: "As property prices continue to rise across the UK, flatsharing is an increasingly common housing option for modern Brits of all ages. Gone are the days when young couples married and moved into their lifetime home to begin a family. Nowadays, key lifetime milestones, such as marriage and having children, are being celebrated in rented accommodation with flatmates. Likewise, older Brits are turning to flatshares in later life and during retirement – something which would have been unheard of a generation ago."

Thomas added: "Last week’s Autumn Statement turned attention to the housing situation in the UK and it is clear that more needs to be done to protect renters who will not be able to afford to buy and therefore see flatsharing as a long term property solution.”

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Latest Comments

Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

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HMO Midlands Landlady
HMO Midlands Landlady 24 May 2016

Tenants disappearing into the night is common from shared houses ( licensed and un-licensed HMO's) often when they owe considerable rent- they remove all their possessions, leave key in room and tell other...

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CommercialTrust
CommercialTrust 20 May 2016

With the bulk of the market controlled by large developers, profit rather than necessity determine the pace at which homes are built. There are hundreds of thousands of plots that have planning permission...

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Johna
Johna 20 May 2016

"Easier said than done" is what I would say. Of course, it would be more than great to have more in quality and affordability, but I do not trust talk anymore.. What is said is not what is happening.

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Johna
Johna 20 May 2016

in my humble opinion being fair like THE most important! I myself have had bad experience with unfair landlords... not to mention that I know how to do a proper end of tenancy cleaning since I am a fantastic...

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richardrawlings
richardrawlings 18 May 2016

NB - even if we doubled our commission levels in the UK, we'd still be by far the cheapest agents in the entire world.

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Agent_PeeBee
Agent_PeeBee 18 May 2016

Clueless. Someone needs to take these people's computers away from them so they can do no more harm than they already have.

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richardrawlings
richardrawlings 18 May 2016

Nonsense! The cost of selling a house nowadays has little bearing on the fees charged. Don't believe your own spin on this. Fees have spiralled down to pathetic levels in areas where weak agents have allowed...

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Simon Oliver
Simon Oliver 16 May 2016

The best solution is to buy a property that has built-in income generating potential: a nice house with a couple of gites in the grounds is a good start. In France, the rune of thumb is that one 2-bedroomed...

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WPD
WPD 12 May 2016

I suggest the answer is to have the notary system being one legal person who represents both parties. Having experienced it a couple of times in France it was a dream compared to our dysfunctional system....

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warren
warren 03 May 2016

It's enough to make me weep into my Pimm's :(

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james anderson
james anderson 03 May 2016

The sad demise of the croquet lawn...

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