{"id":6087883,"date":"2022-07-25T08:50:27","date_gmt":"2022-07-25T07:50:27","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6087883"},"modified":"2022-11-16T15:58:05","modified_gmt":"2022-11-16T15:58:05","slug":"31bn-rent-tenant-type","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2022\/07\/25\/31bn-rent-tenant-type\/","title":{"rendered":"\u00a331bn in rent: which tenant type is paying the most?"},"content":{"rendered":"
In the rental sector, most property types come with an ideal target tenant type, but the amount each renter is willing to pay could be changing.\u00a0<\/strong><\/p>\n Like house prices, UK rents<\/a> have been going up and up in recent years. This is caused by a variety of factors: lack of supply pushing prices up, older tenants having more disposable income, rental property offerings improving.<\/p>\n New research published by Hamptons<\/a> has revealed that UK tenants paid a whopping \u00a331bn in rent during the first half of 2022. This has gone up by around \u00a3750m compared with the first half of 2017, and by \u00a317.3bn compared with the first half of 2008.<\/p>\n Hamptons discovered that this means the total amount of rent being forked out has more than doubled since 2008. Presuming rental levels stay the same, the full-year rental amount will be \u00a363bn this year, while it was \u00a327.8bn for 2008.<\/p>\n Hamptons’ survey looked at the amount of rent paid by each tenant type based on their generation. You’d be forgiven for not knowing the specifics of each label, so here is the breakdown below:<\/p>\n Interestingly, the outgoing rental costs for those in the Generation Z bracket have soared since H1 2020. This, says Hamptons, is driven by growing numbers of this group flying the nest, so it makes sense. In 2022, they are projected to pay \u00a311.7bn, up 222% on last year.<\/p>\n Every other tenant type, though, has seen an overall fall year on year. Millennials are one of the most ‘common’ tenant types, forking out the most (\u00a322.4bn this year), but this is down 18% compared with last year. The bill has fallen by 49% since 2017 as more of this age group buy homes.<\/p>\n The so-called silent generation, who make up the smallest part of the rental sector<\/a>, have seen the biggest drop in their rental bill of 49% since last year; it is projected to be \u00a30.4bn this year.<\/p>\n See the table below for the full outline:<\/p>\n Rent paid by the generations<\/strong><\/p>\nWhich tenant type foots the biggest bill?<\/h4>\n
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