Younger Couples Prefer To Rent Property

Younger Couples Prefer To Rent Property

Author: Gordon Marchant

According to UK research a far greater number of couples without children rent privately than they do within the social sector. This could be because they are unable to secure social housing, or it could be that this particular segment of households is more transient and find private rental accommodation more appropriate for their needs. To explore further it is probably worth looking in a little more detail at some recent survey data to understand the demographics of household types in the rental sector.

• Couples without dependent child (or children); 6% in the social sector, 28% in the private sector.
• Couples with dependent child (or children); 24% in the social sector, 7% in the private sector.
• Single parent with dependent child (or children); 44% in the social sector, 8% in the private sector.
• Other multiple person households; 3% in the social sector, 27% in the private sector.
• One person households; 23% in the social sector, 30% in the private sector.

(Note that the above data is based on a UK survey of the rental sector for those below 30 years of age)

Looking at this data it would suggest that the dominant area for social housing is young people with children, conversely the private sector is dominated by those without children. This view is further supported by the average tenure of a rental property, based on the view that those with children move home less frequently. Research data found on average tenure for the UK rental sector:

• Private housing sector; 91% of properties rented for 3 years or less; 58% for one year or less.
• Social housing sector; 64% of properties rented for 3 years or less; 29% for one year of less.

Going back to the original view that younger couples prefer the private rental sector, it is clear from research that younger couples are more dominant, however it would also appear that the private sector has a much lower average period of tenure. This could therefore suggest that the private sector provides greater support for transient population and workforce mobility. However questions should be asked about young families and whether the private sector can do more to provide longer term accommodation with adequate protection for both landlord and tenant.

Simple2rent Properties provides a free service to private landlords, letting agents and tenants to advertise properties to let or find properties for rent in UK. Simple2rent Properties (http://www.simple2rent.co.uk/index.asp?key=19) also publishes original research articles on the UK property market.