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Survey finds fewer people living in rented accommodation


 
PRLog - Feb. 10, 2014 - SOUTHEND, U.K. -- A new study* from Cover4LetProperty (http://www.cover4letproperty.co.uk (http://www.cover4letproperty.co.uk)) has revealed that over a quarter all renters (26%) have seen up to a 5% increase in the cost of their rent** – more than the current rate of inflation which stood at an average 2.5% during the same period.***

The landlord insurance specialist revisited a previous survey from May 2013**, to see if there are any changing trends in the rented property market and found that:

28% of people living in rented property had a rent increase over a year ago;
4% saw their rent increase by up to a staggering 20% during the same period;
over a quarter of the adult population (28%) are living with family or friends;
the number of people who now live in their own home with or without a mortgage has increased by 12% since last May (now 40%);
32% live in rented property – down 12% since May 2013;
26% of those who live with family or friends do not pay rent – a 10% increase over the last nine months;
22% of these are in the 40-49 age bracket (a decrease of 9% compared to the original study);
28% have always lived at home (down 6%);
10% have recently returned to live at home due to divorce or to care for a sick parent, with nearly three times as many men doing so compared to females (13% vs 5%).

Ends

* Independent study carried out for Cover4LetProperty January 2014 by Usurv

**Independent study carried out for Cover4LetProperty May 2013 by Usurv

**http://www.rateinflation.com/inflation-rate/uk-historical...

Contact
Jason Hulott
***@speediepr.co.uk

--- End ---

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***@speediepr.co.uk Email Verified
Source:Cover4LetProperty
Location:Southend - Essex - United Kingdom
Industry:Insurance, Real Estate
Tags:rental accommodation, landlords, insurance, landlord insurance
Shortcut:prlog.org/12280700
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