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

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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