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‘Generation Rent’ Staying Longer in the Private Rented Sector

Tenants are choosing to stay in rented accommodation for longer than ever before, according to a new survey.

UK Rental Accommodation Market Generation Rent

Tenants are choosing to stay in rented accommodation for longer than ever before, according to a new survey.

Research found that the average length of time that tenants are spending in the private rented sector (PRS) has increased to 14 years in Q4 2015, a marked increase on the 12 year period reported in the third quarter of last year.


Conducted by BDRC Continental, a market research institution, the report has found that the amount of time people are electing to spend in rented accommodation has increased in recent years.


Of those surveyed by BDRC, 90% said that they believe that their rented accommodation is their ‘home’, as opposed to a temporary solution until they achieve home ownership.


The survey also pointed towards improving quality of rental properties as a factor for tenants remaining in place for so long. In Q4, 20% of respondents described their rented property as ‘good value’, whilst 49% went further, describing their current accommodation as being ‘very good value’.


The research also indicated that the quality of landlords has improved, with 79% of those surveyed agreeing that they were satisfied with their current landlord.


The change in attitude towards the UK’s property market from millennials, those currently aged in their 20s and 30s, has seen a distinct shift towards the rental sector, with research from PWC also indicating that owner occupier levels are set to fall in the next decade as a result.

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