The number of new renters falls as more young people stay at home with their parents
The number of new tenants is falling as more young people stay at home with their parents with sky-high costs and falling supply
- Research shows that 4.6 percent of homes went to new tenants this year
- Tenants are feeling the pressure as landlords sell before evicting without fault
Mum and Dad’s hotel is still in high demand as the number of new leases going to first-time buyers has fallen.
Research shows that only 4.6 percent this year went to those who entered the market for the first time. This compared to 6.1 percent in 2015, said Hamptons real estate agent.
Tenants are under pressure from skyrocketing rents and falling supply as thousands of landlords sell in anticipation of new rules banning no-fault evictions.
Tenants are under pressure from skyrocketing rents and falling supply as thousands of landlords sell ahead of new rules banning no-fault evictions
Aneisha Beveridge, from Hamptons, said: ‘Young adults are staying home longer to save, with some skipping the rental market altogether and buying a home instead.’
Across Britain, the average monthly rent for a newly let property was £1,258 last month, up 9.1 per cent from 2022.