Couples without children are the largest group among those who rent, new research has revealed.
The report by letting agents and top ten #Propery100 influencer, Knight Frank, found that 34 per cent of tenant households in the UK fall into this category. It is followed by 25 per cent who are single person households without dependent children.
The figures are helpful to landlords who are working out how to structure their future investment portfolios and focus on the properties that are in high demand.
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Only a quarter of tenants have children, report reveals
Couples with dependent children are the next largest group, making up 20 per cent of tenant households in the UK.
It is followed by 12 per cent that are mixed households without a shared income, such as flat shares.
Only 5 per cent of tenant households are single people with dependent children, according to the report’s findings.
Rental sector is growing, but many tenants plan to move on
Knight Frank said there are currently around five million households in the private rented sector.
It expects this figure to increase to almost 5.8 million by the end of 2021 due to conditions in the housing and jobs markets.
The report also went on to ask tenants why they are renting, with only 5 per cent saying it is due to the flexibility offered and not having to be stuck in one place.
It compares with 30 per cent who said that it’s because they are still saving for a deposit.
Private landlords dominate the market
The report also found that at least three quarters of all renters are living in properties managed by private landlords.
Only 5 per cent of private renters live in accommodation that is run by a large-scale corporate landlord, such as large estates.
Affordability and transport remain tenant priorities while landlords favour London
As part of the research, tenants were also asked about why they picked a certain location and affordability remains the main priority, followed by accessible transport links or an easy commute to work.
At the same time, investors were asked the places they were buying properties and they expressed a keen interest in the capital.
A total of 65 per cent of investment is in London, compared to 35 per cent outside of the capital, Knight Frank said. However, it suggested that there is the potential for the London bias to recede as the market becomes more established.