by Mark Johnston
Renters in the UK.
According to the government around 3 million people in their 20s and early 30s are still living with mum and dad.
Recent analysis has shown that owner occupation in England has decreased by 200,000 from 14.6 million in 2008 to 14.4 million in 2012.
A survey of parents with adult children still living at home with them revealed that on average they charge rent of around £250 to £350 a month.
New research has shown however, that grown up children who are still living with their parents have seen an average rent rise of at least 25 per cent in a year.
Many parents have said that they have ‘upped’ the rent for their grown up children in order to try to ‘push’ their adult children from the nest.
Other research has shown that for the first time since the 1960s more people in England are renting from private landlords than from councils or housing associations.
Data shows that over 9 million people now rent their property from a private landlord.
It therefore seems that this trend partly reflects the recent boom in buy to let ownership.
Champbell Robb, chief executive of the housing charity shelter, says “this historic shift in our housing market is bad news for anyone already struggling to find a decent and affordable home.
According to research from shelter, the homelessness and housing charity, nearly three quarters of UK landlords have either frozen or cut their rents within the last year.
Around 26 per cent of all renters have stated that they were affected by rising rents over the past 12 months, while a staggering 74 per cent state that they were unaffected.
Ian Fletcher, British Property Federation director, said “these figures suggest that for most tenants, private sector rents are not rising at all and official statistics show that nationally they are not exceeding inflation”.
It appears that data compiled by the Office for National Statistic (ONS) shows the around 3 million social renters and around 1.5 million private renters now never expect to be in a position to buy their first home.
Despite the governments funding for lending scheme it still seems that the main issues of affordability and mortgage availability that have blighted first time buyers over the last few years still remain.
So as saving for a home of their own becomes increasingly out of reach, many people have no choice but to live in rented homes for years on end.
Castle trust chief executive, Sean Oldfield, said “many people are either unable to get on to the property ladder or stuck in their current home despite interest rates still being at an all time low”.
Nevertheless, a recent report published by the Department for Communities and Local Government (DCLG) pointed out that home ownership still does account for roughly two thirds of all homes in England. Therefore meaning that owner occupation remains the largest tenture group.
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