Pensioners renting homes at new high

Around one in every 12 private rental sector tenants is a pensioner, a lettings index has found.

Across Britain, retired people now account for 8 per cent of tenants, compared with around one in 20 in 2007, lettings network Countrywide found.

It said around £1 in every £14 paid by tenants across Britain now comes from a pensioner’s wallet.

Across Britain, 53 per cent of tenant pensioners live alone, Countrywide said.

Johnny Morris, research director at Countrywide, said: “The rental market can no longer be typified by the image of carefree, young professionals.

“More than half of tenants are over 30 and the number of pensioners renting has reached record levels. And with younger generations growing up much less likely to be homeowners, tenants are getting older with an ever more diverse group of people calling the rented sector home.”

The average retiree pays £810 per month in rent, around 12 per cent lower than the typical tenant, with people in the older age group tending to live in smaller properties, Countrywide said.

The index is based on 90,000 homes let and managed by Countrywide.