Nearly half of renters feel insecure in accommodation

According to the latest report from national housing charity Threshold, the largest concern for tenants continues to be the security of tenure, with almost half of renters feeling insecure in their accommodation. The findings are based on the charity's annual We Are Generation Rent Survey, which gives voice to the experiences of Threshold users.

The survey, conducted in 2022, paints a troubling picture of an unaffordable and insecure private rental market. Out of the 119 respondents, 59% revealed they were renting due to an inability to afford their own homes, while 12% rented because they couldn't access social housing. 17% of participants stated that they were renting by choice.

The survey recorded the highest levels of insecurity in tenure to date, with nearly half (48%) of respondents expressing feelings of insecurity in their accommodation. This marks a steady year-on-year increase compared to the previous year's findings, where 44% of participants felt insecure. The survey also revealed a significant decline in the number of people feeling secure in their accommodation, with only 18% reporting a sense of security, in contrast to 38% the previous year.

The cost of renting emerged as a major concern among respondents. Using the 30% income-to-rent affordability measure, only 27% of participants were found to have affordable rent. Half of the renters were paying more than 30% of their income towards rent, while almost one-fifth of those surveyed were spending over half of their income on rent.

The majority of respondents expressed a desire to move away from the private rental sector, with 61% aspiring to own their own homes within the next five years. However, only 39% expected this aspiration to become a reality. Additionally, only 9% of those surveyed wished to remain in the private rental sector in the next five years, but despite this preference, nearly a third of renters (31%) anticipated that they would still be renting in five years' time.

Commenting on the survey, John-Mark McCafferty, Chief Executive Officer of Threshold, said: "The strong deterioration in feelings of security among renters over the last number of years is unsurprising as we are continuing to see an exodus of small landlords from the private rental sector, leaving high volatility in the market."

McCafferty welcomed the Government's recent initiatives such as the Tenant-in-Situ scheme and increased delivery of social, affordable, and cost-rental housing. However, he emphasised the pressing issue of small landlords selling their properties, calling for incentives that encourage them to sell to local authorities and approved housing bodies, ultimately improving security for renters.

Examining affordability in the current market using a 30% income-to-rent measure, McCafferty highlighted the concerning findings. The challenge of affordability was particularly acute for those reliant on social welfare, pension payments, and part-time employment. "This crisis in the rental sector is leaving no area of society untouched," he said.