The number of retired people living in rented accommodation has rocketed by more than 200,000 in the last four years, new research shows.
According to the National Landlords Association, the number of people living in private rented accommodation in retirement has increased 13% since 2012 to 220,000.
The South East has the highest proportion of retired private renting population across the UK at 17%.
However, just three 3% live in London – the area with the smallest proportion.
In the North West (15%) there are almost four times as many retired renters compared to the North East (%), and twice as many retirees rent property in the West Midlands (8%) compared to the East Midlands (4%).
The findings suggest that it could become harder for those approaching retirement to find suitable rented accommodation in the future, especially in high demand areas.
Carolyn Uphill, chairman of the NLA, said: “More and more people are turning to private rented housing at every stage of their lives, including in retirement.
“Landlords appreciate the stability and assurances often provided by older households, but are finding it increasingly difficult to build businesses around the needs of potentially vulnerable tenants.
“Successive cuts to the welfare budget, uncertainty about pension provisions, and the devastating impact of the Government’s tax changes are likely to mean that private landlords will soon be unable provide homes in high cost areas like Central London for anyone without a well-paying job.
“As the proportion of retired renters continues to grow there’s a real worry that homes won’t be available in the private sector, forcing people to look further afield – leaving communities they have known and contributed to for decades.”
Full regional breakdown
Region % Retired renters
South East 17
South West 15
North West 15
Scotland 9
East England 9
West Midlands 8
Yorks & Humber 7
Wales 6
North East 4
East Midlands 4
London 3
Northern Ireland 1
