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Renting among the over-50s has reached record highs.
More than 790,000 homes in Britain are now rented by the age group – a 61 per cent rise since 2012.
Figures - Estate - Agent - Hamptons - International
The figures, released by estate agent Hamptons International, mean that 15 per cent of rented homes are now occupied by households aged over 50, with pensioners making up nearly a third of this group.
In the South-East, where the cost of homeownership is the highest in the country, nearly one in five renters is over 50 – the largest proportion out of any region.
Experts - Combination - House - Duty - Prices
Experts say a combination of rising house and stamp duty prices and changes in mortgage lending mean a growing number of families are unable to save enough for a deposit until their fifties.
The cost of renting has also risen, however. It now costs an average of £977 a month to rent, up 2.6 per cent on last year.
Aneisha - Beveridge - Head - Research - Hamptons
Aneisha Beveridge, head of research at Hamptons International, said: ‘House prices have risen more than incomes making it harder for people to buy homes.
The combination of those factors, says Ms Beveridge, has pushed homeownership out of the reach of many households.
Rents - South
Rising rents in the South...
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