Nearly half (49.2%) of all babies were born into rented homes in 2016/17, according to a new report by Royal London, up from just one in three in 2003/04.
The average age for first-time mums and dads is 29 and 33 respectively, while the average age of a first-time buyer is now 34. The so-called ‘generation rent’ is becoming ‘generation parent’.
The number of families with children who are living in privately rented homes has risen by 94% in the decade to 2016/17, with 1.8 million families now in the sector. The North East and Yorkshire and the Humber are the regions which have seen the largest proportional increases.
While some may make this lifestyle choice, there is a concern that many households may become caught in the ‘parent rent trap’, as renters pay on average more of their monthly income on housing.
How can Waterfords help?
Waterfords have a range of ideal first time buyer properties on the market at the moment. Our Camberley branch are delighted to have just launched a selection of brand new apartments in the town centre with some fantastic incentives by the local and prestigious developer; Lux Homes. Parkgate House is an ideal selection of apartments for first time buyers and investors.
First time buyers
With prices starting at under £199,999, only 5% deposit needed and even stamp duty paid on certain apartments, click here to find out more about becoming a first time buyer at Parkgate House.
Buy to let investors
Alternatively, if you are a buy to let investor looking for an ideal addition to your rental portfolio due to increased demand for quality apartments for tenants, then Samuel Charlton, our Head of Lettings, would be delighted to discuss return on investment figures with you for these apartments or other properties. Call 01252 235348 to book an appointment with Sam or email firstname.lastname@example.org
Waterfords Lettings also have a wide range of properties to rent that are perfect for young families. Click here to view our latest lettings properties.