The number of retired people living in private rented accommodation in the UK has increased by 200,000 over the last four years, according to the latest poll.
The National Landlords Association (NLA) survey has shown a growth of 13% in the proportion of retired private renters since 2012 as more and more people are turning to the private rented sector.
The South East is the area with the highest proportion of retired people renting private accommodation, with 17%. Whereas London is home to the smallest proportion of those renting in retirement, with just 3%.
The North West is home to almost four times as many retired renters with 15%, while the figure is 8% in the West Midlands, 4% in the East Midlands and 4% in the North East.
However, in the same time frame, the proportion of landlords letting to retired renters has decreased by almost half, with 9% of landlords currently letting to retirees, in comparison with 19% in 2012.
These statistics indicate that it is likely to become more difficult in future for those coming into retirement to find suitable rented accommodation, particularly in areas of high demand, according to NLA chairwoman Carolyn Uphill.
She explained that there are an increasing number of people turning to private rented housing and every stage of their lives, including retirement age, and that landlords appreciate the assurances and stability that older households often provide.
However, she added that landlords are finding it more and more difficult to build their businesses around the requirements of potentially vulnerable tenants.
Ms Uphill also commented that private landlords may soon be unable to provide homes in expensive areas like Central London to anyone who does not have a well paid job due to the huge impact of the Government’s tax changes, pension provision uncertainty and welfare budget cuts.