Almost half (46%) of those renting in Ireland are aged 35-54 despite the stereotype that the younger generation are majority renting group – new Core Living and Housing Report
- Nearly a third (30%) of mortgage owners do not want to stay in their current property
- Majority of renters like their area, but just 56% are satisfied with the home they live in
According to the new Living and Housing report from Core, Ireland’s largest marketing communications company, 46% of those surveyed who are renting in Ireland are 35–54-year-olds and 55% are couples with and without children, despite the common assumption that renters are young single adults.
The research shows that the average age of a renter has been increasing, as the lack of housing to purchase keeps a growing generation renting, whether they want to or not. Only 23% of mortgage-holders are aged under 34 years old, while 66% of homeowners are aged over 55 years old.
The report reveals that location trumps living space across all households in Ireland currently with 76% of people satisfied with the area they live in. It is evident from the report there is dissatisfaction with the quality of living spaces in comparison, as nearly a third (30%) of mortgage owners have revealed they don’t want to stay in their current property long term and just 56% of renters are satisfied with their home itself.
The report shows that the Irish public now place a lot more value and importance on community, its amenities and surrounding areas in comparison to pre Covid.
- 1 in 3 adults feel that the upkeep of public parks, the sense of community and the cleanliness of their town have changed for the better in the last 2 years
- 64% of renters and 82% of home owners feel safe in their community
- 65% of renters would recommend their area, less than half (45%) of renters like their home
Speaking about these research findings, Core’s Marketing Director, Finian Murphy said:
“The modern-day profile of renters needs to be recognised as not only young people starting out, but in fact many renters are now young families at that key household formation stage of life. It is important to recognise that the traditional family first home is becoming less of a realisation for many. The opportunity to decorate, customise or invest in a home as a family grows may not be possible when renting. This will have a significant impact on many categories who market their brands to young couples and families starting out.
30% of current mortgage owners told us they would not like to stay in their home for the long-term, which will of course drive up demand for those looking to move from maybe their first home to a large space. This tends to be driven by the current home not “suiting my needs” rather than being unhappy with the community or area they live in. In fact, during COVID-19, there has been a growth in appreciation for local parks, public space and community spirit so of those who plan to move, they possibly only which to go around the corner.”
To learn more about Core, please visit onecore.ie or @core_irl on Twitter.
To register to receive the full report, please visit onecore.ie/intel