PHOTO: A typical Sydey house currently costs about $991,000. Source: Supplied

SYDNEY’S millennial generation are in danger of renting well into their late 40s and even becoming “retiree renters”, housing experts have warned.

The predictions have followed a report from the Australian Housing and Urban Research Institute showing a 38 per cent spike in the number of households renting over the past decade.

Driving the growth was an increase in those renting well into their 30s, with the typical age of a Sydney homebuyer now at nearly 38, according to additional mortgage data.