The majority of people renting properties through our offices are aged between 25 and 40 years old and 90% are aged below 40. There is some variation between offices. Midtown for instance, has a higher than average proportion (47%) of under 25s, reflecting a high concentration of students renting in Bloomsbury and Midtown and also of over 60s.
Overseas nationals make up 70% of renters in our markets, with Europeans the dominant group, accounting for 33% – these proportion are both line with the 2014 shares.
Docklands is the most British of our markets for renters – here they accounted for 48% of tenants compared with just 17% in Midtown. The bias towards overseas nationals in Midtown reflects the higher budgets generally available to overseas students than domestic ones. 21% of renters in Midtown were from the Far East compared with 14% overall and just 8% in Docklands.
US nationals were most likely to be in the City or Docklands where they made up 13% and 8% respectively. In other markets their presence was negligible.
The household composition for renters in our markets was fairly evenly split between sharers, couples and singles. Families made up only 4% of renters in our areas, reflecting high entry levels for 3 and 4 bed properties. This dataset is new this year but this balance probably reflects the norm in our markets. The City has a higher proportion of singles (43%), while Midtown had a bias towards sharers.
There are distinct geographical differences in occupation type. 40% of all tenants leasing homes through our City office were employed in the financial sector and a further 13% in the law and 15% in TMT. In Midtown, students dominate the rental market, accounting for half of all tenants there. Finance is also an important employer in Docklands although the spread is wider here, with public sector and hospitality becoming more significant.
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