The average tenancy length in the UK is getting longer – and by 2025, 25% of all households will be living in the private rented sector.
Both findings are from LSL companies.
Your Move reported that in London – which has almost one-fifth of all rental properties in the UK – the average tenancy length is 20 months, but that in the south-east and across the commuter belt, tenancy lengths are much longer.
In Sevenoaks, Kent, for example, the average is now 44 months.
Your Move said that average rents in London stood at £1,277 a month in June and in the commuter belt at £780 a month.
The shortest tenancies in the UK were found in the south-west (15 months), where the average rent has fallen to £664 a month in June 2017 from £684 in June the year before.
In Wales, where the average rent as of June was £599, the typical renter stays in the same property for two years.
In Scotland, tenancy lengths hit 18 months, while tenants in Northern Ireland stay an average of 17 months.
Meanwhile, separate research from the Corporate Client Department of LSL is predicting that one-quarter of all UK households will be private tenants within eight years.
According to the latest English Housing Survey, the proportion for the year 2015/2016 was 20%, representing 4.5m households. The figure equates to a growth of 2.5m households since 2000.