13/10/2009 - Average age of tenants on the rise
The average age of renting tenants has increased by three years since 2006, suggesting that rising house prices have made homes unaffordable for many young adults.
According to Spareroom.co.uk the average age of someone renting shared flats or houses has increased to 28, from 25 three years ago.
It appears the average deposit - about 25% of the house value - demanded by lenders after the credit crunch is still too high for the average potential buyer.
The number of people renting out rooms in their homes to make ends meet has also risen.
With an average of nearly 40, the oldest tenants were in Paisley, Scotland, followed by those in Motherwell at 33.4 and renters in Halifax at just over 33.
The youngest tenants were seen in Dundee - an average of just over 22 - with those in Aberdeen about 22.4, and Huddersfield came next with renters averaging 23.2.
Matt Hutchinson, director of Spareroom.co.uk, said: "While most of us strive to be homeowners, the stark reality is that home-ownership continues to be out of reach for many people in this country.
"This is reflected in the rise in the average age of the renting population over the last five years."
Copyright © Press Association 2009
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