08/01/2024

Generation Guppie: The Rise of Long-Term Renters in London’s Property Market

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Ever heard of Guppies in the property sector? No, we’re not talking about the fish. ‘Guppies’ is a catchy term for a significant demographic in the rental market. It refers to tenants aged 18-39 who are embracing long-term renting, a group people have termed ‘Generation Guppie.’

Why Guppies?

The nickname stems from ‘Given Up on Property.’ This generation often sees property ownership as a distant dream, primarily due to high costs and hefty deposit requirements. However, it’s not just about affordability. For many Guppies, the flexibility and lifestyle benefits of renting outweigh the perceived advantages of buying.

The Size of Generation Guppie

According to Zoopla, a staggering 42% of Brits under 40 without property are not planning to buy for at least ten years. Many of these Guppies, about 40%, have annual earnings exceeding £60,000. This data highlights the significant and growing impact of Guppies in the property market.

What to Guppies Look For in a Rental Property?

While we advocate a thorough tenant selection process, including credit and reference checks, Guppies, with their stable incomes and long-term renting intentions, could be ideal tenants. But what exactly are Guppies looking for?

  1. High-Quality Accommodation:
    Guppies aren’t seeking transient solutions; they want a well-maintained, modern place to call home.
  2. Tech-Savvy Communication:
    Being generally young and tech-savvy, Guppies favour instant communication channels like WhatsApp and expect prompt responses.
  3. Pet-Friendly Options:
    Many Guppies, who may not have children, are pet owners or aspire to be. Thus, accommodating pets can be a significant draw.
  4. Stress-Free Upkeep:
    One allure of renting for Guppies is avoiding the hassle of maintenance and repairs, expecting landlords to be proactive in this area.

Managing rental properties and finding quality tenants can be challenging. If you’re looking to tap into the Generation Guppie market, our team at MyLondonHome is here to help. Reach out to us today for personalised advice and support.

This post was written by:

Steven Herd

Steven's extensive 30 years of estate agency experience in London culminated in launching MyLondonHome, which has enabled him to bring together a hand-picked team to provide the high level of quality advice, market strength and service he is renowned for.

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