Young Britons Face Record £3.5bn Rent Hike Over Two Years

Rising mortgage rates and the end of Help to Buy have left under-45s paying two-thirds of the UK's rental costs, with long-term economic implications.

Collective rent paid by under-45s in Britain has risen by £3.5bn over two years, reaching a record £56.2bn in 2024, according to Hamptons estate agents.
Younger renters now account for 66% of all rent paid in the UK, as high house prices and stricter mortgage lending keep many from entering the housing market.
The number of under-45s renting surged by 149,000 in the past year, marking the fastest growth in a decade, while the number of over-45s renting declined.
The end of the Help to Buy scheme in March 2023, alongside rising mortgage rates, has exacerbated barriers to homeownership for younger generations.
Experts warn that unaffordable rents are reducing disposable income, limiting economic growth, and contributing to broader societal issues like declining birth rates and fewer independent households.

The Times