1. More older tenants in 2023 

Although renting is generally associated with younger individuals, it is predicted that there will be more older tenants in 2023. Recently, we have been seeing people of all ages rent property with a 70% increase of tenants between the ages of 45 to 65 in the past ten years. Renters aged between 55-64 years old have also doubled.  

2. Fewer first-time buyers in 2023 

The cost-of-living crisis has made it more difficult for people to get on the property ladder and therefore we can expect to see fewer first-time home buyers in 2023. According to an analysis from Aviva, over 1 million people may decide not to buy their first home this year. 

3. Homes lost to the holiday home sector 

There has been a significant rise of second homes in England. According to Propertymark, England loses approximately 29 homes per day to the holiday home sector. As a result of this, there will be more competition for vacant homes in 2023. 

4. Difficulties to finance buy-to-let investments 

It will be an extremely challenging time for buy-to-let investors this year as they may have difficulties securing finance due to the cost-of-living crisis. Last year, buy-to-let mortgage products fell by over 50% which was also because of increasing mortgage rates.  

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