Homeowner stays shorten while renters rent for longer

While we wait for the 2021 census housing data to be published, we look to the newly published 2020/21 English Housing Survey data to help us understand the changing relationship we have with our homes since the last census.

Since 2011/12, owner occupiers have seen a drop in their length of tenure, from an average of 17.1 years in their accommodation to 16 years in the new 2020/21 survey results.

In contrast, private renters have increased their tenure length, increasing from an average of 3.8 years in 2011/12 to 4.2 years in 2020/21.

This slight swing to longer private tenancies arrives amidst a new cost-of-living crisis, where the English Housing Survey reports 52% of private renters feeling that they are unlikely to be able to afford to buy a home. In 2011/12, this figure was only 41%.

We could look at this as a positive for residential landlords, as longer secure tenancies means less chance of void periods in the future.

Would you like advice on your rental property?

Our experienced and friendly Lettings & Property Management team are here to help landlords and investors across the Camberley, Chobham, Fleet and Yateley areas. No question is too big or small and we’d be delighted to chat with you. Email us at lettings@waterfords.co.uk or call your local branch:
 

• Camberley: 01276 66566
• Chobham: 01276 858589
• Fleet: 01252 623333
• Yateley: 01252 870222

Source: Dataloft, DLUHC English Housing Survey 2021/22 and 2011/12