OAPs to join ‘Generation Rent’ as property ladder is pulled out of reach


There could be almost a million over-65s living in privately rented accommodation by 2035 according to the Generation Rent campaign group, as people leave it later to get on the property ladder.

The group expects the number of households renting privately where the lead person is aged over 65 will increase from 370,000 (2015-2016 figure) to 995,000 in 2035. This triple growth is believed to be due to a shortage of new housing being built, as well as the idea that people are leaving it too late to get onto the property ladder because of the rising costs of buying.

Dan Wilson Craw, director of Generation Rent, said: “With most debates on housing focused on young adults, politicians risk neglecting the vast numbers of people who are already too old to get a mortgage and face a lifetime of renting.

“As they start retiring in greater numbers, the state will have to pick up the tab unless it makes some fundamental changes to the housing market.”

What’s the alternative?

The average age of a first-time buyer is now higher than ever – 32 years old in 2015/2016 – and the average deposit needed for a new home is now £33,000 on average, which is prohibitive for many.

The problem with leaving it later to get a mortgage is that, by the time you’re in your 40s, many lenders worry that you’re already halfway to retirement, and therefore see you as a risky borrower.

Advocates of the relatively new build-to-rent market see this as the answer to the crisis. Build-to-rent properties are designed specifically for rent rather than purchase, often comprising large purpose-built blocks incorporating extensive facilities. They’re becoming increasingly popular options aimed at those who prioritise a high standard of living over getting on the property ladder.

Multi-generational living, where homes are converted (or even built) with the idea of multiple generations of a family living under one roof, is also on the rise. It is often cheaper to convert an attic or basement, or even build an annex onto an existing home for the young adults or grandparents of the family, than to think about purchasing a whole new property.

Photo: Pixabay


Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800


Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator


Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.


Not a member? Sign up for free


OAPs to join ‘Generation Rent’ as property ladder is pulled out of reach


By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.