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Home & Property2021-07-19T10:06:30+01:00

Buying and renting homes for single people

The ‘Single Housing Challenge’ a home of your own.

With 1 in every 7 of the nation’s homes already occupied by one adult, the government expects an extra 4 million prospective sole occupiers to be looking for homes by 2033.

That’s around 1 in 4 of us, – or 15 million ‘one person households’ which all adds up to making buying or renting homes for single people very difficult.

We’re all familiar with the situation, – there are simply aren’t enough affordable homes to go around causing house price inflation.  A recent survey by the Nationwide showed that for first time buyers who are couples, gross house prices are now on average 4.4 times earnings. That’s bad enough for couples, but twice the problem if you’re single.

This, coupled with the requirement for borrowers to provide much higher deposits than in the past has made it more difficult than ever to buy your first home. The Halifax House Price Index reported an annual house price increase of 3.7% in August, with average house prices now £229,958, with many getting help from their parents to get on the housing ladder. The number of first time buyers increased by around 3% in the first six months of 2018 to 175,500 buyers.

Overall there’s a lot of single occupants up and down the country, according to the Census the numbers of homes with a single occupant is 29%, almost a third of the population. We represent a sizeable chunk of the population and this trend looks set to continue.  Is it time for us to shout louder about the unique issues we face?

Buying and renting homes for single people can be really hard.

Banks and building societies are now reluctant to lend first time buyers funds at reasonable interest rates unless they can come up with bigger deposits of up to £30,000 or more. This, combined with the credit crunch, high property prices and a shortage of homes means that two in three people are finding it difficult to get on the housing ladder and being single makes it harder.

Keeping a roof over your head can be equally difficult for partners who are splitting up, whether through a divorce or dissolving a civil partnership or breaking up an informal couple, remortgaging, buying a new home or renting a new home on a single income can be just as difficult.

What you need to know, independent information under one roof.

Up to date information for single tenants and single house buyers.

  • With MORE people living on their own, MORE homes are needed, causing MORE pressure on the housing market. Whatever way you look at it, there’s going to be an even bigger demand for places to live, rented or mortgaged.
  • With resources for single people especially limited, we’ll be finding the options and keeping a constant look out on what’s available for you. Keeping you up to date with the latest developments and arming you with the information you need to help you provide your home.

Remember, we are totally independent, working on your behalf to provide up to date information and find the best deals for single consumers so if you have any housing info or tips for other single people that might help,  LET US KNOW

HOME & PROPERTY

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