Younger renters less likely to back regulation despite challenges
12:01 AM, 15th April 2025, 1 year ago
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Despite more than one million renters aged 18–34 feeling stressed about their living situation, younger renters are less likely to support greater regulation of the private rented sector, according to new research.
Data from Aldermore reveals that nearly a third of 18–34 year-olds have had to move home in the past year, with 24% forced to move because their landlord was selling up.
However, despite these challenges, only 57% of 18–34-year-old renters support increased regulation, compared to more than 71% of renters aged 55 and over.
Younger renters are less likely to support greater regulation of the sector
Jon Cooper, director of mortgages at Aldermore, said: “The rental market has become a much trickier landscape to navigate, both for landlords and renters. Unfortunately, for younger renters, who are earlier in their wealth accumulation journey, we’re seeing this group facing greater financial and emotional stress.
“Despite this, it’s interesting younger renters are less likely to support greater regulation of the sector, like the Renters Rights Bill, which would help to alleviate some of pain points they face, and provide them with greater support.
“There’s work to be done to ensure the private rental sector remains a viable environment for both renters and landlords, and any further regulation to increase transparency and support must be done in a way that is fair, proportionate, and meaningful for all parties.”
Never be able to buy a first home
According to Aldermore, 19% private renters have missed or been late to meet rent payments in the last 12 months, with this rising to a quarter (25%) of those aged between 18-34.
More than half (64%) are scared future rent increases will mean they’ll need to drastically change their living situation, while older renters are less likely to have this concern (48%).
Many young renters also fear they won’t be able to save enough for their first home, with 61% worried they’ll never be able to afford to buy one.
Tags:
Aldermore research, Housing Affordability, landlord tenant reform, Private Rented Sector, rent increases, rental market stress, rental regulation, renters rights bill, young renters
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Member Since December 2023 - Comments: 1591
9:32 AM, 15th April 2025, About 1 year ago
Maybe the penny is finally dropping that increased regulation needs to be paid for through higher rents.
Also, renting isn’t necessarily a bad option for younger people. It gives the chance to determine what size home they need without the idiocy of SDLT. They can time their homeownership for when interest rates are lower than normal.