Nearly half (49.2%) of all babies were born into rented homes in 2016/17, according to a new report by Royal London, up from just one in three in 2003/04.
The average age for first-time mums and dads is 29 and 33 respectively, while the average age of a first-time buyer is now 34. The so-called ‘generation rent’ is becoming ‘generation parent’.
The number of families with children who are living in privately rented homes has risen by 94% in the decade to 2016/17, with 1.8 million families now in the sector. The North East and Yorkshire and the Humber are the regions which have seen the largest proportional increases.
While some may make this lifestyle choice, there is a concern that many households may become caught in the ‘parent rent trap’, as renters pay on average more of their monthly income on housing.
Since Help to Buy was introduced in 2013, take-up in the number of first-time buyer mortgages has grown by 37% to end 2018. In 2018 there were some 370,000 first-time buyer loans with an average borrower age of 30 years old, typically borrowing £142,500 and a loan to value of 84%. As first-time buyer numbers […]
In 2018, just under 285,000 properties across Great Britain were purchased with cash alone, comprising 29% of all property sales. This is the lowest proportion of cash sales recorded since this record began. Between 2012 and 2017, more than 30% of transactions were cash sales. The proportion of cash sales fell in each region of […]
One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January. Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, […]