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Renters nest For Longer 2020

Published: 07/02/2020

4.6 million households now live in the private rented sector, and their property is increasingly home for longer.

Data from the recently-released English Housing Survey indicates the average number of years a private sector tenant has been in their current home is 4.4 years, up from 3.7 years back in 2010/11.

Over half (56%) of renters plan to purchase a property in the future, however this proportion is the lowest in over a decade. More than a quarter (28%) of tenants have lived in the private rented sector for over a decade and four in ten don’t expect to buy within the next five years.

Affordability, flexibility and a lifestyle choice are just some reasons why people choose to rent. A raft of government legislation over recent years has focused on improving standards for tenants in the sector, with more announcements expected in the March 2020 Budget.

Are you trying to find a new place to live, call Willmotts for property advice or information with selling and or buying a home please email sales@willmotts.com or call 020 8222 9958