Renters are Nesting for Longer

News at Newton Fallowell | 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.

 

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