Forget millennials, the number of renters aged 50 and over has reached a record high.

Analysis of Countrywide branch data by Hamptons International found that over-50s accounted for 15% of rented households so far this year, up from 11% in 2012 when the data was first recorded.

Almost a third of this group are pensioners, Hamptons International said.

The agent estimates that over-50s rented 791,580 homes this year, 61% more than in 2012 and 8.2% more than last year.

As a result, it says, this group will pay £9.2bn in rent this year, up from £5.1bn in 2012 and £8.5bn in 2018.

It means that £1 in every £7 paid by tenants in Great Britain now comes from a tenant aged over 50, compared with £1 in every £9 in 2012.

The highest proportion of these renters were in the south-east at 19%, followed by 16% in the south-west and north-west.

The east of England, London and Yorkshire & Humber (11%) had the lowest proportion of tenants aged 50 and over.

Across all age groups, the agent said average rents on new lets rose 2.6% annually in May to £977 per month, mainly driven by rises in the south.

Aneisha Beveridge, head of research at Hamptons International, said: “The number of over-50s renting in Great Britain has reached a record high.

“With younger generations much less likely to be home owners, tenants are getting older, and an ever more diverse group of people are calling the rented sector home.”