The landlord insurance specialist compared their latest findings with those carried out last year**, to see if there has been any change in home ownership and renting trends.
They found that:
home ownership (with or without a mortgage) has increased by 12% since May 2013;
nearly a third (28%) of Brits live with family and friends (no change);
the amount of women living in rented accommodation has dropped from 52% to 15%, while there has been a 6% increase (from 37% up to 43%) for men;
those in the 40-49 age group are most likely to live in rented property;
while previously, 91% of 18-29 year olds lived with family or friends, this has dropped to 40%, suggesting younger people are getting a foot on the property ladder;
25% of those in the 50-59 age band now live with friends or family. Previously, none did;
20% of those in the 18-29 age group have recently moved back home citing reasons such as divorce and lack of finances;
Those who earn £40,000 or more a year are just as likely to live in rented accommodation as those who earn less.
Richard Burgess, Director at Cover4LetProperty(
* Independent study carried out for Cover4LetProperty January 2014 by Usurv
**Independent study carried out for Cover4LetProperty May 2013 by Usurv
***Help to Buy scheme (http://metro.co.uk/