Forget Generation Rent, we’re on course to become Nation Rent

June 7, 2019

Research by VeriSmart, the letting compliance specialists, has looked at what point in the future the UK could lose its homeowner status as the scales tip towards a greater number of rental sector occupants compared to owner-occupiers.

The UK is a nation of aspirational homeowners, but the high cost of property has seen many remain resigned to the rental sector. In fact, when it comes to the percentage of homeowners, the UK currently ranks as the 24th lowest of all 28 EU nations at just 65%.

In contrast, the UK is home to the fifth highest percentage of tenant occupiers of all EU nations, behind just Germany, Austria, Denmark and France.

The latest data shows that since 2010, the percentage of owner-occupant homeowners has fallen by -5% while the percentage of occupants in the rental sector has grown by 5%.

Despite this, homeowners still account for 65% of the market as we remain a nation driven by the goal of owning our own home. However, should this seven-year trend persist we could start to see this change as more and more of us remain in the rental sector.

Based on the previous decline in homeownership levels, the scales would tip in favour of tenants by 2039 with 50.7% of us renting to 49.3% owning our own home. By 2045 this will have grown to 55% of the nation living in the rental sector to 45% classes as owner occupants.

This isn’t a trend driven out of necessity but rather people choosing to rent within the private sector, as during this time the number of us in social rental accommodation has also dropped.

Founder and CEO of VeriSmart, Jonathan Senior, commented:

“We are currently seeing a shifting mentality in the way we choose to live our lives and for Generation Rent, in particular, there is no longer that urgency to make it out of the rental sector and secure their own ‘piece’ of bricks and mortar.

This was initially driven by consistently buoyant house price growth coupled with stagnant wage growth providing no other option but to rent, however, social rental numbers are falling, Build-to-Rent is growing in prominence, and there has been a number of tenant-friendly changes to the sector.

All of these changes are making the rental sector a more attractive place to be and as a result, we are seeing more of us opt for it and stay there for much longer than we may have traditionally.”

UK – Tenure Type Distribution (%)
Tenure Type
2010
2011
2012
2013
2014
2015
2016
2017
Percentage / Distribution change over a seven-year period
Owner
70
67.9
66.7
64.6
64.4
63.5
63.4
65
-5%
Tenant
30
32.1
33.3
35.4
35.6
36.5
36.6
35
5%
Projection – Owner vs Tenant Occupation (%)
Year
Owner
Tenant
2010
70
30
2017
65
35
2024
60
40
2031
55
45
2038
50
50
2039
49.3
50.7
Tipping Point
2045
45
55

 

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

Breaking Property News 3/9/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The imminent interest rate hike is going to be a real reckoner for property   When interest rates rise again, Britain’s housing market will discover what it is really worth   Thought Leadership by Andrew Stanton CEO Proptech-PR For more than a decade, Britain’s housing…
Read More →
Breaking News

Tenancy deposit reform overlooks estimated £750m

As the Government considers reforms to England’s tenancy deposit system, The Letting Partnership is warning that one major question remains almost entirely absent from the debate: what happens to tenancy deposits that are never reclaimed? While current discussions have focused on how deposits should be protected in future, namely custodial vs insured schemes, far less attention…
Read More →
Breaking News

Application to offer in 24 hours with new Barclays Fast-Track Remortgage

Barclays launches first-of-its-kind Fast-Track Remortgage, which can provide eligible customers1 a mortgage offer within 24 hours, and completion in as little as five days Research finds those who have switched lenders are twice as likely to find the process difficult compared to those who stayed with their lender (20 per cent vs 10 per cent)…
Read More →
Estate Agent Talk

Mortgage overpayments in a confident market

Financial experts are encouraging homeowners and first-time buyers to take a fresh look at mortgage overpayments as confidence builds in the UK property market and interest rates begin to ease. With major lenders cutting rates, improved loan-to-value options for buyers, and growing optimism in the 2026 market, mortgage overpayments are emerging as a powerful and…
Read More →
Breaking News

House price growth remained subdued in August

UK annual house price growth remained broadly stable in August at 1.6% House prices were up 0.2% month on month Headlines Aug-26 Jul-26‡ Monthly Index* 550.1 549.1 Monthly Change* 0.2% -0.1% Annual Change 1.6% 1.4% Average Price (not seasonally adjusted) £275,465 £276,581 * Seasonally adjusted figure (note that monthly % changes are revised when seasonal…
Read More →
Letting Agent Talk

What Adds Three Weeks to Leasehold Conveyancing?

As government reforms target a four-week reduction in homebuying times, Konnect You analysis points to management packs, extra lease enquiries, third-party responses and title issues as recurring leasehold bottlenecks. The government is targeting a reduction of around four weeks in the homebuying process through reforms published in June 2026. Its roadmap proposes more property information upfront and recognises that leaseholders can face delays…
Read More →