Young Renters Stressed, But Shun Reform
- Sarah Ruivivar
- Apr 24
- 2 min read
A recent survey by Aldermore reveals that over half of tenants aged 18 to 34 are stressed about their living situations.
With many facing insecurity due to landlords exiting the market, it's no wonder they're feeling the heat. A whopping 32% of young renters had to move in the past year, often due to landlords selling up.
Despite these challenges, young renters are surprisingly less keen on increased regulation, like the Renters Rights Bill, which could boost their rights. While 71% of renters over 55 support more regulation, only 57% of younger renters feel the same. This reluctance is intriguing, given that a quarter of young renters have struggled with rent payments in the last year.
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The financial strain is real, with moving costs averaging £669 and fears of future rent hikes looming large. Two-thirds of young renters worry they'll need to make drastic changes if rents rise, and 61% fear they'll never own a home.
Jon Cooper of Aldermore notes the tricky landscape for both renters and landlords, stressing the need for fair and meaningful regulation. It's a balancing act to ensure the rental sector remains viable for everyone involved.
So, while young renters are stressed, it seems they're not quite ready to embrace reform just yet. Perhaps a little more conversation and a lot more action are needed to find common ground!
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