High property prices have forced many single people aged 35-55 into small rental accommodation or flat shares, new research shows.

Data firm Experian has coined the term ‘midlife stopgap’ to describe these individuals, who are either single or newly separated – and have now become the largest group of renters after students.

The group are typically renting two to three-bedroomed Victorian or Edwardian terraced properties, and sharing the house with other adults. They tend to be in full-time employment and on an average salary of £20,000 to £29,000.

The average house price in the UK is currently £233,000, according to the latest figures from the Office of National Statistics. This is around ten times the earnings of the average ‘midlife stopgapper’ - therefore unaffordable.

“A rapid expansion in the rental sector has reversed almost 100 years of rising owner occupation,” said Nigel Wilson, managing director of consumer insight and targeting at Experian. “Renting is no longer the preserve of the young career starters but we increasingly see groups of older people and people of varied wealth joining them.”

He added: “A prolonged stay on the bottom of the property ladder creates a shortage of supply for newcomers, forcing them to seek alternative options. This is amply demonstrated by a recorded increase in the length of residency for younger families in starter homes, rising to 11 years from five, forcing others to look to rent property as a first step."

Popular towns for ‘Midlife Stopgappers’ include Torquay, Portsmouth, Crawley, Penzance and Chatham.

Experian has also identified another, younger, group of renters, termed ‘Flying Solo’. These are individuals who no longer wish to rent in city centres, but are instead moving out to attractive suburbs in search of affordable, quality housing.

The group are typically 18-25 year-old singles at the beginning of their careers, on starter salaries of £15,000-£19,000 and with a level of financial security. Popular locations for these renters are Hatfield, Bournemouth, Uxbridge, Staines and Dartford.

Nigel Wilson commented: “With a long term rise in renting creating higher density, less family-oriented neighbourhoods populated by people with increased disposable income due to a lack of outgoing cost on house related expenses, we expect to see an increase in demand for convenience stores and fast-food chains along with more spend in bars and pubs.”

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