space
 
 

You're on the UK site
change country
You are not logged in. Click here to login
 
Student Login <
Landlord Login <
Letting Agent Login <
Find Housemates Student Guides Advertise Blogs   follow us  
AFS Pinterest AFS facebook AFS Twitter AFS LinkedIn
 
 


 

From cradle to grave: are millennials set to rent for the rest of their life?


By Simon Thompson
 
     

With more and young people not expecting to get themselves onto the property ladder until their 30s, it looks like more millennials are heading down the route of renting, with many set to continue in the renting sphere for many years.

Home ownership in Britain has slumped by ten per cent in just ten years, as house prices rise and wages consistently fail to meet this amount.

For people born after the 1980s, the millennials, home ownership regularly stretches further and further away from their grasp.

Politicians of every party, such as Theresa May and Jeremy Corbyn, have all vowed that the home ownership flag in Britain will be raised once more, despite this, a recent report has revealed that the latest wave of young people will actually be ‘cradle to grave’ renters.

According to the Think Tank, 40 per cent of all millennials will still be living in rented accommodation by the time they are 30, that’s twice as many as generation Z, consisting of people born between 1965-1980.

Millennials are now being nicknamed ‘generation rent’, with demands increasing daily for more affordable housing schemes for the young.

5.8 million homes will be privately rented by 2012, with the Guardian blaming soaring prices and stagnant wages as the main culprit for the drop in demand and numbers.

The Foundation Homes to Rent are calling for much more help to be supplied to the younger generation, stating that the housing crisis has finally fallen through and the young generation are holding up the timbers.

According to the BBC, although renting in the private sector is accessible and handy for young people and couples with few ties, the Independent claim that the tough renting rules currently in place are placing incredible pressure on families with young children and pets when needing to find a place to live, with the constant fear of the landlord’s whim interrupting the children’s schooling and education.

1.8 million families rent in the UK, this figure is up a staggering 600,000 in just fifteen years and doubling in the past decade.

There are also claims that whilst housing benefit is supplied, its rates are based off what was required from families in the generation before them meaning that they are simply not enough to support young families in their first home.

The current renting set up could also mean that there will be a doubling of the pensioner’s bill, as more people end up renting into their old age, renters over the age of 65 tend to spend half of their income on rent alone, leaving little pension to enjoy.

There are also extensive tenant fees to pay when changing between properties, with many people beginning to recognise that they will be unable to get onto the property due to years in the renting circle.

Housing also counts for a large chunk of public wealth, meaning that the affect will be felt substantially if home owners continue to fall in their numbers due to high costs.

With renting regulations refusing to relax, young people struggling to pay their way and the housing crisis growing to an all-time high, it appears that even Theresa May’s ‘new homes promise’ will do little to combat the wealth inequality in this country when it comes to home owning, especially if banks continue to deny loans to young expectant home owners.

Despite 30 per cent of all renters stating that they are renting a property in order to save for a deposit for a house, it appears that the majority of people are renting simply because they have no other option and whose plans for a deposit are often dampened down by low wages and a high cost of living.

In light of these shocking statistics, more housing charities are calling for more to be done for the current housing crisis happening right now in Britain, suggesting five factors that could improve the prospects of generation rent.

Firstly, they are calling for a cap on private sector renting fees and rent, to prevent millennials from spending the vast majority of their wages on somewhere to live each monthly instalment.

Next, there are demands for a better protection scheme for tenants, to ensure that tenants receive the proper insurance and rights that they are entitled to.

There are many stories of landlords taking ‘revenge’ on tenants after they report a problem and this needs to be an issue that is solved soon in order to give tenants, especially those with young children, the protection and support that they deserve and that they are paying for; and to also stop and prosecute any landlords who are found to be committing these crimes.

Charities are also calling for plenty more social housing to be built at an affordable level to allow young families and couples to get onto the property ladder, there are also plans to stop the right to buy, which gives landlords an £108,000 discount on their properties, and to put housing into the hands of the community.

Whilst all of these suggestions will not happen overnight, they stand as a promising set of standards that if upheld, will hopefully make a difference in the long term future of house renting and house purchasing.

Whilst Theresa May’s plans to build more homes are welcomed by many, if these homes are inaccessible for the young home buyers in terms of price, then they will do very little to actually combat the issue in the first place, leaving yet more homes built but yet more young people unable to purchase them.

 
 
Landlord Guides
 
Welcome to our Student Landlord
Guides filled with great insight and
information from our student
ambassadors.
 
Search Blog
 
 
Search by Date
 

May 2019

April 2019

March 2019

February 2019

January 2019

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

November 2017

October 2017

September 2017

August 2017

July 2017

May 2017

April 2017

March 2017

February 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

May 2016

April 2016

March 2016

February 2016

January 2016

November 2015

August 2015

July 2015

June 2015

April 2015

March 2015

February 2015

January 2015

November 2014

October 2014

September 2014

August 2014

July 2014

June 2014

May 2014

April 2014

March 2014

February 2014

January 2014

December 2013

November 2013

October 2013

September 2013

August 2013

July 2013

June 2013

May 2013

April 2013

March 2013

February 2013

January 2013

December 2012

November 2012

October 2012

September 2012

August 2012

July 2012

June 2012

May 2012

April 2012

March 2012

February 2012

January 2012

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011

May 2011

April 2011

March 2011
 
 
 
 
 
 
     
Landlords Enjoy 'Greater Rewards' In The North
 

Landlords Enjoy 'Greater Rewards' In The North

Landlords who are looking to enjoy greater rewards from their investment should look north of London, one index reveals.

The findings from Landbay Rental Index highlights that rent increases in London h

     
Posted by on 22/05/2019 15:25:12
Read More

     
Number Of Deposit Disputes Reaching Adjudication Falls
 

Number Of Deposit Disputes Reaching Adjudication Falls

The number of deposit disputes that are reaching adjudication is falling thanks to early intervention.

Those are the findings from the Tenancy Deposit Scheme (TDS) who say there has been a sharp

     
Posted by on 22/05/2019 15:20:46
Read More

     
Landlords Warn Of Selling-Up Over Section 21
 

Landlords Warn Of Selling-Up Over Section 21

Nearly four in 10 landlords say they will sell-up if Section 21 is axed by the government, a survey reveals.

The survey was conducted by Landlord Action who found that 38% of buy to let landlords say they

     
Posted by on 22/05/2019 15:15:49
Read More

     
Inventory Clerks Record A Sharp Rise In Safety Problems
 

Inventory Clerks Record A Sharp Rise In Safety Problems

The reports being made by inventory clerks are increasingly reporting and showing compliance and safety issues in rental properties, research reveals.

The Association of Independent Inventory C

     
Posted by on 15/05/2019 17:02:14
Read More

     
Landlords Will Make More Limited Company Purchases
 

Landlords Will Make More Limited Company Purchases

More landlords will buy property using a limited company in 2019, research suggests.

Foundation Home Loans says that most landlords who are looking to expand their portfolio over the next 12 months

     
Posted by on 15/05/2019 16:57:57
Read More

     
Landlords Who Abandon Btl Earn £80,000
 

Landlords Who Abandon Btl Earn £80,000

Buy to let landlords who decide to abandon the market because of the government clampdown have been earning an average profit of £80,000 for each of the properties they sell.

Landlords in England and Wales last

     
Posted by on 15/05/2019 16:51:33
Read More

     
Rents Continue To Increase In England And Wales
 

Rents Continue To Increase In England And Wales

Rents across most of England and Wales are continuing to increase, one report reveals.

The rental index published by Goodlord highlights that between March and April, the rents in six of the eight regi

     
Posted by on 09/05/2019 10:43:48
Read More

     
PRS 'Crisis' Will 25% Of Landlords Sell Up
 

PRS 'Crisis' Will 25% Of Landlords Sell Up

The confidence levels among landlords in the private rental sector are so low that 25% of them say they will be selling at least one property in the next 12 months, one report reveals.

The Residential Land

     
Posted by on 09/05/2019 10:38:07
Read More

     
The Household Hazards That Btl Landlords Overlook
 

The Household Hazards That Btl Landlords Overlook

The household hazards that buy to let landlords fail to address in their rental properties has been revealed.

The findings from property compliance firm VeriSmart from more than 60,000 property inspe

     
Posted by on 09/05/2019 10:24:46
Read More

     
BTL Is Less Attractive For 'Amateur' Landlords
 

BTL Is Less Attractive For 'Amateur' Landlords

It appears that the days of amateur buy to let investors in the UK is coming to an end, lending figures reveal.

According to UK Finance, the banking trade association, banks advanced only a few dozen lo

     
Posted by on 02/05/2019 13:51:14
Read More

     
Landlords Look North For Better Returns
 

Landlords Look North For Better Returns

Investor landlords in the south of England are looking North for better returns, one index reveals.

The findings from Your Move highlight that property yields in the North continue to outstrip other regions.

     
Posted by on 02/05/2019 12:27:33
Read More

     
Landlords Return To Buy To Let
 

Landlords Return To Buy To Let

There has been a big jump in the number of landlords who are returning to the buy to let market after they have come to terms with the extra costs being imposed, says one estate agency.

According to haart, the legisla

     
Posted by on 02/05/2019 12:20:27
Read More

     
London's Landlords Are Increasingly Buying Outside Of The Capital
 

London's Landlords Are Increasingly Buying Outside Of The Capital

London's landlords are increasingly buying outside of the capital

London's landlords are increasingly buying investment property outside of the capital, one lettings index has reveale

     
Posted by on 17/04/2019 14:12:11
Read More

     
Manual Underwriting Call From Professional Landlords
 

Manual Underwriting Call From Professional Landlords

More than one in three property investors are calling for buy to let lenders to apply a manual underwriting process aimed at professional landlords, a new survey reveals.

The findings from MT Fina

     
Posted by on 17/04/2019 12:56:43
Read More

     
Section 21 Notices To Be Scrapped
 

Section 21 Notices To Be Scrapped

In a bid to protect tenants from 'rogue' landlords, Section 21 notices for eviction are to be scrapped, the government has announced.

In the announcement, the government says that Section 8 evictions will also be r

     
Posted by on 17/04/2019 12:26:46
Read More

     
The UK's buy to let hotspots revealed
 

The UK's buy to let hotspots revealed

The UK's best buy to let hotspots have been revealed with the news that average rents grew in the year to March by 0.96%.

According to the research from Landbay, the best city for rental growth in that period w

     
Posted by on 10/04/2019 15:09:49
Read More

     
Eu Tenants ‘Will Struggle To Rent Post-Brexit’
 

Eu Tenants ‘Will Struggle To Rent Post-Brexit’

Tenants from the European Union will struggle to rent private accommodation once the UK leaves the EU, one landlords’ organisation is warning.

The Residential Landlords' Association (RLA) says the UK go

     
Posted by on 10/04/2019 15:04:51
Read More

     
Buy To Let Landlord Exodus Fears Over Tax Blow
 

Buy To Let Landlord Exodus Fears Over Tax Blow

Fears of a new buy to let landlord exodus have been raised over a new tax blow.

It's been revealed that the government is looking to reform lettings relief, which currently sees a landlord earning up t

     
Posted by on 10/04/2019 15:01:34
Read More

     
Rent Hikes ‘Fuelled By Landlord Exodus’
 

Rent Hikes ‘Fuelled By Landlord Exodus’

The growing exodus of landlords leaving the buy to let market has led to the highest number of tenants experiencing rent hikes since August, figures reveal.

According to Arla Propertymark, 34% of letting agent

     
Posted by on 02/04/2019 14:27:02
Read More

     
Areas With The Highest Rental Demand Revealed
 

Areas With The Highest Rental Demand Revealed

The areas that have the highest rental demand from tenants in the UK have been revealed.

Verismart, a property compliance specialist, says it has analysed rental data from property portals to find where

     
Posted by on 02/04/2019 14:14:52
Read More

     
Landlords Can't Afford New Energy Efficiency Upgrades
 

Landlords Can't Afford New Energy Efficiency Upgrades

The introduction of tough new laws covering energy efficiency for rental properties means one in three landlords cannot afford to upgrade, one organisation warns.

The Residential Landlords Associ

     
Posted by on 02/04/2019 13:49:55
Read More

     
Buy To Let Outperforming Most Asset Classes
 

Buy To Let Outperforming Most Asset Classes

Research has revealed that an investment in a buy to let property has outperformed just about every other major asset class over the past 10 years.

Most of this performance is down to increasing rental yie

     
Posted by on 27/03/2019 11:15:44
Read More

     
'No Sign' Of Rising Rents Abating
 

'No Sign' Of Rising Rents Abating

Private rents rose by 1.1% in the year to February across the UK, the Office for National Statistics says.

The data reveals that, on a monthly basis, rents grew by 1%.

In England and Wales, rents rose by

     
Posted by on 27/03/2019 11:04:51
Read More

     
Rogue Landlords Warned Not To Exploit Students
 

Rogue Landlords Warned Not To Exploit Students

Rogue landlords have been warned that they face legal action if they are found to be exploiting students, one government minister warns.

As new regulations to give tenants more power come into force, r

     
Posted by on 27/03/2019 10:55:36
Read More

     
Buy To Let Investors Are Getting Younger
 

Buy To Let Investors Are Getting Younger

The average age of buy to let investors in the UK has fallen by 3.5 years over the past 12 months, one online estate agency says.

According to yieldit, the average age of a BTL investor using their services h

     
Posted by on 22/03/2019 14:33:55
Read More

     
Tenant Issues Revealed In A New Poll
 

Tenant Issues Revealed In A New Poll

Around half of tenants say they have fallen ill or been injured by their rental property's condition, one survey reveals.

The findings have been published by Aspect to coincide with the new Fit for Habitation rul

     
Posted by on 20/03/2019 16:54:51
Read More

     
HMRC Urges 'Accidental' Landlords To Pay Tax
 

HMRC Urges 'Accidental' Landlords To Pay Tax

A campaign launched by HM Revenue and Customs aimed at accidental landlords urging them to pay tax might be failing, one accountancy firm says.

The Let Property Campaign was launched in 2013 to encourage

     
Posted by on 20/03/2019 14:38:05
Read More

     
Rents Are Increasing Quicker Than Inflation
 

Rents Are Increasing Quicker Than Inflation

Average monthly rents have increased by 3.8% over the past year, which means rents are increasing at a rate quicker than inflation, one index reveals.

The figures from HomeLet highlight that the average re

     
Posted by on 13/03/2019 12:13:47
Read More

     
What Tenants Want From A Home
 

What Tenants Want From A Home

A survey of what tenants are looking for from their rental property has been revealed.

The findings from Zoopla found that when looking for rental properties in England, Wales and Scotland, the most coveted feature want

     
Posted by on 13/03/2019 12:07:11
Read More

     
Rising Costs Lead Landlords To Cut Spending
 

Rising Costs Lead Landlords To Cut Spending

Higher taxes and rising running costs have led to 36% of landlords reducing their expenditure, research reveals.

The data has been published by Kent Reliance, a specialist mortgage lender, who say that the

     
Posted by on 13/03/2019 12:02:30
Read More

     
Government Plans DSS Advert Crackdown On Landlords
 

Government Plans DSS Advert Crackdown On Landlords

The Government has announced that it will start cracking down on those landlords who refuse to let a property to tenants receiving benefits.

Plans have been revealed that will end discrimination ag

     
Posted by on 08/03/2019 12:06:47
Read More

     
BTL Tax Reforms Are 'Misguided'
 

BTL Tax Reforms Are 'Misguided'

The government is being urged to reconsider its BTL tax reforms as rents begin to soar and the number of landlords begins to fall, one firm of estate agents say.

According to data from haart, the number of landlords r

     
Posted by on 08/03/2019 11:58:39
Read More

     
Rent To Rent 'Breaches Human Rights
 

Rent To Rent 'Breaches Human Rights

The Government's controversial Right to Rent scheme has been ruled by the High Court to breach human rights.

The scheme demands that landlords check the immigration position of a potential tenant before they are a

     
Posted by on 08/03/2019 11:46:50
Read More

     
Btl Investors Look To The North West
 

Btl Investors Look To The North West

Growing numbers of buy to let investors are looking to the North West of England in the search for better returns than can be enjoyed in London, one real estate firm says.

According to Savills, the North West has

     
Posted by on 27/02/2019 15:22:00
Read More

     
Btl Confidence Remains High Despite Market Challenges
 

Btl Confidence Remains High Despite Market Challenges

Investors remain confident in the buy to let sector and there's little sign of a market slowdown, says one online agency.

In an analysis from yieldit, the firm says that the number of new listing

     
Posted by on 27/02/2019 15:15:01
Read More

     
Highest Rent Rises Since September Are Recorded
 

Highest Rent Rises Since September Are Recorded

Growing numbers of landlords put up rents in January to record the first rises since September 2018, according to data.

ARLA Propertymark has crunched the numbers and found that the number of letting

     
Posted by on 27/02/2019 15:02:39
Read More

     
Landlords Could Be Illegally Letting Energy Inefficient Properties
 

Landlords Could Be Illegally Letting Energy Inefficient Properties

There could be tens of thousands of landlords who are unwittingly renting out a property illegally because they do not have an energy performance certificate of at least an 'E', one technology f

     
Posted by on 21/02/2019 12:28:18
Read More

     
Buy To Let Lending Suffers A Slump
 

Buy To Let Lending Suffers A Slump

Fewer landlord investors took out a new BTL mortgage in December, leading to the continuing slump in mortgage activity, one organisation reports.

According to UK Finance, just 5,100 new buy to let mortgages were ag

     
Posted by on 21/02/2019 12:21:25
Read More

     
Students Call For The End Of 'Landlord Exploitation'
 

Students Call For The End Of 'Landlord Exploitation'

The National Union of Students is calling for an enquiry into the way landlords and agents are letting homes to students after a survey found many have adopted 'unfair practices'.

The organisation

     
Posted by on 21/02/2019 12:07:40
Read More

     
Average Tenancy Deposit Cost Revealed
 

Average Tenancy Deposit Cost Revealed

The average tenancy deposit value across the UK has risen over the past year, according to The Dispute Service (TDS).

In a report, the organisation says that the average value of tenancy deposits and the number

     
Posted by on 14/02/2019 12:28:59
Read More

     
Economic Uncertainty Boosts Rental Home Demand
 

Economic Uncertainty Boosts Rental Home Demand

Economic and political uncertainty is boosting demand for rental properties, one index reveals.

According to HomeLet, the private rental sector is offering greater security and certainty for those who a

     
Posted by on 14/02/2019 12:23:15
Read More

     
Landlords Hit By A Decline In Tenant Numbers
 

Landlords Hit By A Decline In Tenant Numbers

For the first time in more than 10 years, the total amount of rent being handed to landlords has fallen, a survey reveals.

The findings from real estate firm Hamptons International reveals that fewer peop

     
Posted by on 14/02/2019 12:05:11
Read More

     
Property Professionals Looking To Expand Portfolios
 

Property Professionals Looking To Expand Portfolios

Most property professionals in the UK are looking to expand their portfolios this year, one survey reveals.

The survey was carried out by MT Finance which found that affordability issues and politi

     
Posted by on 08/02/2019 09:59:06
Read More

     
Big Rise In Landlord Numbers Leaving The Sector
 

Big Rise In Landlord Numbers Leaving The Sector

Along with rent rises for tenants, there's been a big jump in the number of landlords who are leaving the rental market, according to a report.

The findings from Arla Propertmark are based on December

     
Posted by on 08/02/2019 09:53:32
Read More

     
The PRS Trends That Will Dominate The Sector Revealed
 

The PRS Trends That Will Dominate The Sector Revealed

A new report reveals the trends that will dominate the UK's private rental sector over the next few years.

The report has been compiled by real estate firm Knight Frank and it makes for interest

     
Posted by on 08/02/2019 09:45:33
Read More

     
What Student Tenants Are Looking For
 

What Student Tenants Are Looking For

Landlords looking to exploit the student tenant market need to understand what students are looking for in a property, one organisation says.

To help those buy to let landlords who have bought properties close

     
Posted by on 01/02/2019 10:17:57
Read More

     
Landlords Claim Billions In Tax Relief
 

Landlords Claim Billions In Tax Relief

The UK's landlords claimed a record amount in tax relief last year despite new fiscal regulations, one lettings agency says.

According to ludlowthompson, landlords claimed £17.7 billion in relief, which is up

     
Posted by on 01/02/2019 10:13:45
Read More

     
Most Prs Landlords 'Still Make A Profit'
 

Most Prs Landlords 'Still Make A Profit'

Despite regulatory changes, most landlords in the private rental sector are making a profit, a new report claims.

The report has been published by BM Solutions who say that 88% of those landlords it surveye

     
Posted by on 01/02/2019 10:05:40
Read More

     
Landlords Are Facing A 'Watershed' With Tax Bills
 

Landlords Are Facing A 'Watershed' With Tax Bills

Landlords are facing a 'watershed' this month because of tax changes being reflected in their tax bills for the first time, one trade association warns.

The Intermediary Mortgage Lenders' Associatio

     
Posted by on 24/01/2019 14:44:32
Read More

     
Landlords Opting For 5-Year Btl Fixes
 

Landlords Opting For 5-Year Btl Fixes

Landlords are increasingly opting for five-year fixed rate buy to let products, one index has revealed.

The data from Mortgages for Business highlights that in the last quarter of 2018, 84% of landlords had opt

     
Posted by on 24/01/2019 14:39:40
Read More


View more

 
Are you an existing landlord?
Click here to log into your account

Are you new to AFS, click here to find out more information

LinkedIn twitter YouTube Facebook

usa flag ireland flag australia flag canada flag france flag spain flag germany flag italy flag southafrica flag india flag russia flag japan flag china flag