Length Of Time Private Renters Stay In Their Homes Increases

 The average length of tenure for private renters in their current home is now 4.6 years. This figure has been gradually increasing; 10 to 15 years ago, the average tenure was between 3.5 and 3.8 years.

Data from the previous English Housing Survey indicates that the length of tenure varies among different age groups: younger renters tend to remain in each property for a shorter duration, with 64% of those aged 16 to 24 living in a property for less than three years.

Older renters tend to stay longer; in the age groups 35–54 and 55–64, 68–69% have lived in their rental for over five years.

Community connections, along with access to education, become increasingly important factors for these types of renters.

As the age of first-time buyers increases, the demographics of renters are also changing, with older individuals choosing to stay in the rental market longer. These older renters often spend more time in each property, which affects the overall length of their tenures.

Market conditions significantly influence this trend. Due to the recent imbalance between supply and demand in the rental market, many renters prefer to remain in their current properties rather than compete for a new one.

For property investors looking to enter the buy-to-let space, tenant demand is likely to remain extremely high for the foreseeable future. If you invest in a suitable property in an area close to amenities and transport links, your property will likely be snapped up quickly by tenants.

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Quealy & Co: Your Letting Agent In Kent

Whether you are thinking of becoming a residential landlord or are a seasoned investor with a portfolio, contact the Lettings and Property Management team at Quealy & Co.

We can advise you on purchasing a rental property or renting out your existing home. We will help you achieve the best possible price for your rental properties while advising you on compliance and ways to keep your tenants comfortable.

Call us at 01795 429836 or email hello@quealy.co.uk to speak with a member of our friendly and experienced team about anything related to your rental property. 

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Source: Dataloft by PriceHubble, English Housing Survey 2023/2024 (length of tenure) and 2021/2022 (length of tenure by age).