Over-65s Flatsharing Triples as Financial and Social Pressures Mount
The number of individuals over the age of 65 opting to share flats has tripled over the past ten years, according to recent data from the flatshare platform SpareRoom. This significant increase reflects a broader shift in housing dynamics, where financial constraints and social needs are compelling older adults to reconsider traditional living arrangements.
Financial Necessity Drives Older Adults to Flatshare
For many in their sixties and beyond, flatsharing has become a financial imperative rather than a lifestyle choice. Tamara Kocsubej, a 63-year-old activities coordinator for Age UK, never anticipated she would be sharing a flat at this stage in her life. After divorcing and relocating from Hungary to England with her son, she found that even with full-time employment, affording a solo rental was impossible.
"If I could afford it, I'd love to have a studio or one-bedroom," Tamara explains. "But it's too expensive. Financially, I can only go for flatsharing. It's particularly hard for single people. If I was still married and there were two of us, it would be easier. For single people, everything costs more – food, bills, everything."
Matt Hutchinson, director of SpareRoom, highlights the underlying market trends: "The market used to be dominated by groups of twenty- and thirtysomethings chasing jobs and opportunities in cities and major towns." However, "unaffordably high rents are shifting household dynamics as well as changing the geography of flatsharing. The youngest are being priced out of the rental market altogether, as older renters are priced out of home ownership or renting solo."
Social Benefits and Companionship in Later Life
While financial pressures are a primary driver, some older flatsharers are motivated by the social advantages of shared living. Sara Hirsch, aged 61, chose to flatshare not out of necessity but for the companionship it offers. When her neighbours, a couple in their late fifties, needed temporary accommodation, they moved in with her, leading to a more permanent arrangement.
"I thought, why not? They fitted in so brilliantly," Sara recalls. "It ended up being a bit like a student house, only we all had a lot of money to spend. It would be a bit like: Monday night, crap day at work, let's have champagne, why not?"
For Sara, the benefits extend beyond finances. "I'm very aware of rattling around in a big house with a lot of space," she says. "So for me, it's about the company and the fun of living together. We have a lot of laughs. Between us, we're all great cooks. We can have restaurant-quality meals every night, rather than being by myself all the time."
Challenges and Strategic Choices in Older Flatsharing
Despite the potential benefits, flatsharing in later life is not without its difficulties. Tamara experienced negative dynamics when living with younger flatmates, feeling bullied and excluded from shared spaces. This led her to strategically seek out housemates closer to her own age.
"I deliberately looked for someone a similar age to me because my previous experience, living with people in their thirties, was so negative," Tamara explains. "It was so horrible I had to leave."
Both Tamara and Sara emphasise the importance of clear expectations and compatibility. "If you're lucky, you can have a brilliant experience," Tamara notes. "If not, sorry. You need to move and keep looking for something better, which isn't easy to find."
A Growing Trend with Long-Term Implications
The data from SpareRoom indicates a significant demographic shift, with the proportion of 55- to 64-year-olds flatsharing more than doubling in the past decade. Meanwhile, the under-35 segment is in decline. This trend suggests that older adults are increasingly being squeezed out of traditional housing options.
Hutchinson warns of the long-term consequences: "Those who haven't built equity in property could be much worse off in their retirement years unless something changes dramatically."
For individuals like Tamara, the future remains uncertain. "I think I might have to be doing it for the whole of my life," she admits. Yet, for others like Sara, flatsharing represents a positive and adaptable approach to aging. "There's a whole generation of us now thinking about how we live and maybe doing it differently," she reflects. "For me, I'm taking each year as it comes."
