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- Marketing To Renters - UK - November 2011
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“While still in the minority, accounting for 12.6 million adults, renters felt the aftermath of the credit crunch deeply, with over three quarters admitting that renting is their best option because they can’t afford to buy a place of their own. The inability to get on the property ladder pushes up the demand for rentals and their price, putting a further squeeze on renters’ incomes, with rents and utilities currently accounting for 37% of their monthly spend. ”
– Ina Mitskavets, Consumer and Lifestyles Analyst
Some questions answered in this report include:
- What was the impact of the credit crunch and the continued economic stagnation on renters?
- What are renters aspirations towards home ownership?
- What are the current roadblocks for purchasing a property and what reasons do renters use when choosing to live in a particular location? What are their attitudes towards living in that location?
- What channels do both renters and homeowners use in order to find their ideal place of residence?
- How involved are renters and homeowners in their local communities?
- What are the differences in monthly spending patterns between renters and homeowners?
- What are the differences in decisions about home furnishings and home shopping destinations between renters and homeowners?
Issues in the Market
Methodology
Abbreviations
Executive Summary
What is it all about?
Property tenure
Figure 1: Tenure of primary residence, September 2011
Who people live with
Figure 2: Household composition, by household tenure, September 2011
Rent and bills dominate monthly spend
Figure 3: How renters spend their monthly income, September 2011
Interaction within the local neighbourhood
Figure 4: Use of facilities in local area, September 2011
Why people live where they do
Figure 5: Reasons for living in current location, by household tenure, September 2011
Decorating decisions
Figure 6: Things bought when moving home, September 2011
Demographic Overview
Key points
Property tenure
Figure 7: Tenure of primary residence, September 2011
Demographics of renters and homeowners
Figure 8: Demographics of renters and homeowners, September 2011
Figure 9: UK household tenure, by number of people living in the household, 2011
Age structure trends and growth projections
Figure 10: Population trends and projections, by age, 2006-16
Household finances
Figure 11: Household income, by household tenure, September 2011
Current Living Situation
Key points
Property type
Figure 12: Type of property lived in, by household tenure, September 2011
Homeowners are concentrated in the suburbs
Figure 13: Type of property lived in, by household tenure, September 2011
Who people live with
Figure 14: Household composition, by household tenure, September 2011
Figure 15: Household composition, by household size, September 2011
The Cost of Renting Versus Home Ownership
Key points
Hard-pressed renters
Figure 16: Personal monthly rent contribution, by region, September 2011
North/South divide
Figure 17: Personal monthly mortgage contribution, by region, September 2011
Rent and bills dominate monthly spend
Figure 18: Monthly income after tax, by household tenure, September 2011
Figure 19: How renters spend their monthly income, September 2011
Men are bigger savers
Figure 20: How renters spend their monthly income, by gender, September 2011
Money matters
Figure 21: How renters spend their monthly income, by household income, September 2011
Property Priorities for Renters
Key points
Property search
Figure 22: Channels used for property search, by household tenure, September 2011
Older homeowners more reliant on estate agents
The role of the internet in finding a new home
Cost of rent is highest priority
Figure 23: Most important factors when deciding which property to rent, September 2011
Gendered considerations
Old versus young
Interaction within the local neighbourhood
Figure 24: Use of facilities in local area, September 2011
Younger renters use local eateries more
Not making the most of cultural amenities
Renters make less use of local facilities
Figure 25: Percentage point difference to which renters are more likely than homeowners to make use of facilities within their local area, September 2011
Attitudes Towards Renting
Key points
Affordability determines aspirations to buy
Figure 26: Type of rented accommodation, September 2011
Rural renters are hardest pressed
Why people live where they do
Figure 27: Reasons for living in current location, by household tenure, September 2011
Women prioritise needs of children
Age influences location needs
Choosy homeowners
Figure 28: Repertoire of reasons for living in current location, by household tenure, September 2011
Trapped renters
Figure 29: Attitudes towards renting, September 2011
Who is investing in their rented properties?
Women and wannabe homeowners invest more in their rented homes
Home Furnishings
Key points
Decorating decisions
Figure 30: Things bought when moving home, September 2011
Women are smarter shoppers
Figure 31: Things bought new when moving home, by household tenure, September 2011
Home shopping destinations
Figure 32: Home shopping destinations, by household tenure, September 2011
Consumer Typologies
Key points
Figure 33: Consumer typologies, September 2011
Urbanites
Family-minded
Limited Choices
Appendix – Demographic Overview
Trends in household size
Figure 34: UK households, by size, 2006-16
Trends in house prices and rents
Figure 35: Average house prices and average monthly rents – England, 1994-2008
Figure 36: Deposit as a percentage of purchase price, by type of buyer – UK, 1988-2010
Figure 37: Household expenditure on private rent as a percentage of disposable income, 2001/02-2007/08, England
Figure 38: Ratio of median house prices to median earnings, by region – England, 1997-2010
Appendix – Current Living Situation
Figure 39: Type of property lived in, by household tenure, September 2011
Figure 40: Type of property lived in, by demographics, September 2011
Figure 41: Type of property lived in, by demographics, September 2011
Figure 42: Living situation, by demographics, September 2011
Figure 43: Living situation, by demographics, September 2011
Appendix – The Cost of Renting versus Home Ownership
Figure 44: Monthly rent, by demographics, September 2011
Figure 45: Monthly mortgage, by demographics, September 2011
Figure 46: How money is spent in a typical month, by household tenure, September 2011
Homeowners’ monthly spend
Figure 47: How money is spent in a typical month, by demographics, September 2011
Figure 48: How money is spent in a typical month, by demographics (continued), September 2011
Figure 49: How money is spent in a typical month, by demographics (continued), September 2011
Renters’ monthly spend
Figure 50: How money is spent in a typical month, by demographics, September 2011
Figure 51: How money is spent in a typical month, by demographics (continued), September 2011
Figure 52: How money is spent in a typical month, by demographics (continued), September 2011
Figure 53: How money is spent in a typical month, September 2011
Figure 54: How money is spent in a typical month, by gender, September 2011
Appendix – Property Priorities for Renters
Figure 55: Most important things while deciding which property to rent, by demographics, September 2011
Figure 56: Most important things while deciding which property to rent, by demographics (continued), September 2011
Homeowners’ local amenities
Figure 57: Local amenities, by demographics, September 2011
Figure 58: Local amenities, by demographics (continued), September 2011
Figure 59: Local amenities, by demographics (continued), September 2011
Figure 60: Local amenities, by demographics (continued), September 2011
Figure 61: Local amenities, by demographics (continued), September 2011
Figure 62: Local amenities, by demographics (continued), September 2011
Figure 63: Local amenities, by demographics (continued), September 2011
Figure 64: Local amenities, by demographics (continued), September 2011
Renters’ local amenities
Figure 65: Local amenities, by demographics (continued), September 2011
Figure 66: Local amenities, by demographics (continued), September 2011
Figure 67: Local amenities, by demographics (continued), September 2011
Figure 68: Local amenities, by demographics (continued), September 2011
Figure 69: Local amenities, by demographics (continued), September 2011
Figure 70: local amenities, by demographics (continued), September 2011
Figure 71: Local amenities, by demographics (continued), September 2011
Appendix – Attitudes Towards Renting
Figure 72: Type of rented accommodation, by demographics, September 2011
Figure 73: Property search, by demographics, September 2011
Figure 74: Property search, by demographics, September 2011
Homeowners’ reasons for living in current location
Figure 75: Most popular reasons to live in current location, by demographics, September 2011
Figure 76: Most popular reasons to live in current location, by demographics (continued), September 2011
Figure 77: Most popular reasons to live in current location, by demographics (continued), September 2011
Figure 78: Less popular reasons to live in current location, by demographics, September 2011
Renters’ reasons for living in current location
Figure 79: Most popular reasons to live in current location, by demographics, September 2011
Figure 80: Most popular reasons to live in current location, by demographics (continued), September 2011
Figure 81: Most popular reasons to live in current location, by demographics (continued), September 2011
Figure 82: Less popular reasons to live in current location, by demographics, September 2011
Figure 83: Repertoire of reasons to live in current location, by demographics, September 2011
Figure 84: Repertoire of reasons to live in current location, by demographics, September 2011
Figure 85: Agreement with selected statements, by demographics, September 2011
Figure 86: Agreement with selected statements, by demographics, September 2011
Figure 87: Agreement with selected statements, by demographics, September 2011
Figure 88: Agreement with selected statements, by demographics, September 2011
Figure 89: Agreement with selected statements, by demographics, September 2011
Figure 90: Agreement with selected statements, by demographics, September 2011
Figure 91: Agreement with selected statements, by demographics, September 2011
Appendix – Home Furnishings
Figure 92: Things bought and taken from previous residence when moving home, by household tenure, September 2011
Figure 93: Top stores when buying things for your home, by household tenure, September 2011
Figure 94: Most popular stores when buying things for your home, by demographics, September 2011
Figure 95: Most popular stores when buying things for your home, by demographics, September 2011
Figure 96: Most popular stores when buying things for your home, by demographics, September 2011
Figure 97: Most popular stores when buying things for your home, by demographics, September 2011
Appendix – Consumer Typologies
Figure 98: Reasons for living in current location, by target groups, September 2011
Figure 99: Type of property lived in, by target groups, September 2011
Figure 100: Living situation, by target groups, September 2011
Figure 101: Monthly rent amount, by target groups, September 2011
Figure 102: How money is spent in a typical month, by target groups, September 2011
Figure 103: Property search, by target groups, September 2011
Figure 104: Type of rented accommodation, by target groups, September 2011
Figure 105: Attitudes towards renting, by target groups, September 2011
Figure 106: Important things while deciding which property to rent, by target groups, September 2011
Figure 107: Things bought and taken from previous residence when moving home, by target groups, September 2011
Figure 108: Top stores when buying things for your home, by target groups, September 2011
Figure 109: Local amenities, by target groups, September 2011
- Amazon.co.uk
- Argos
- Asda Group Ltd
- B&Q Plc
- Bhs Plc
- Britannia Building Society
- British Heart Foundation
- British Sky Broadcasting Group plc (BSkyB)
- Co-operative Group
- Council of Mortgage Lenders
- Countryside Alliance
- Debenhams Total
- DFS Furniture Holdings Plc
- Dreams Plc
- Facebook, Inc.
- Furniture Village Plc
- Government Actuary's Department (GAD)
- Halifax Mortgage Services
- Homebase Ltd
- IKEA
- J Sainsbury
- John Lewis Partnership
- Lakeland Ltd
- Laura Ashley Group
- Lidl (UK)
- Magnet Ltd
- Marks & Spencer
- National Trust (Enterprises) Ltd
- Next Group
- Post Office Limited
- Rightmove Plc
- Shelter
- Tesco Plc
- The TJX Companies
- Wilkinson Hardware Stores Ltd
- Zara Home (Spain)
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