‘Silver-splitters’ drive rise in OAPS renting homes

THE number of elderly people renting homes has reached a record high with the growing divorce rate among older couples cited as a key factor.

As more so-called “silver splitters” move into rented accommodation after leaving the marital home, one in 12 private rental sector tenants is now a pensioner, the lettings agent Countrywide found. This compares with around one in 20 in 2007.

Official data shows there has been a sharp rise in divorce among the over 60s in England and Wales. In 2011, nearly 9,500 men in this age group divorced – an increase of almost three quarters in 20 years.

In Britain today more than half (53 per cent) of tenant pensioners live alone, Countrywide said.

Johnny Morris, research director at Countrywide, said: “The number of pensioners renting has reached record levels. And with younger generations growing up much less likely to be home owners, tenants are getting older, with an ever more diverse group of people calling the rented sector home.”