Growing number of people looking to rent in retirement

Growing number of people looking to rent in retirement

Date Published 15 November 2018

Private renting has more than doubled over the past 20 - 25 years. Young people are most likely to rent. Home ownership has dropped dramatically, with many people in the UK fearing that they`ll never be able to own their own home.

A recent study has shown that 31% of tenants in rented accommodation could never imagine owning their home, with many of them suggesting that they will carry on living in rented accommodation for life.

Gillian Girling, chief executive of Girlings Retirement Rentals, said: `We are an ageing nation and so it`s to be expected that many parts of the UK will have a greater number of over 65s, especially areas that are popular to retire to such as Somerset and Dorset.

`However, 65 is no longer considered old and people on average will live a quarter of their lives retired. Moving somewhere new and vibrant with great facilities and amenities close by and access to a good social life to enjoy this stage of their lives is increasingly important for many.
`Growing numbers of this age group are now choosing to downsize and rent in these locations.`