Average tenancy in UK is now 20 months – and many are longer

Average tenancy in UK is now 20 months – and many are longer


Todays other news
Lloyds has become a big Build To Rent player...
The business will be part of John Shepherd, Lomond's local...
This week's announcement is just the start...
It's a franchise resale by Belvoir...
The franchise giant has reported latest figures to its shareholders...


The average UK private rental tenancy is now 20 months, almost a fifth longer than in 2014 according to research from Your Move.

Advertisement

 

Advertisement

London – home to nearly a fifth of the UK’s rental properties and sometimes depicted as having a volatile rental market – in fact has an average tenancy of 20 months, exactly in line with the all-UK average according to the data. 

Advertisement

 

This is despite the fact that the capital remains comfortably the most expensive part of the country to rent in, with average payments hitting £1,277 a month in June this year. 

Advertisement

 

Outside of London, across the South East and commuter belt, rental contracts are typically longer. 

Advertisement

 

The commuter town of Sevenoaks in Kent boasts the longest tenancy lengths in the UK, with the average property being let for 44 months, despite rents rising from £780 a month in June 2014 to £885 in June this year.

 

The shortest tenancies in the UK were found in the South West (just 15 months) where the average rent has fallen to £664 a month in June 2017 from £684 nine months previously. 

 

In some locations in the South West – specifically Filton and Taunton – average rental agreements are as little as six months.

 

Over the Severn Bridge in Wales, where the average rent as of June 2017 is £599, the typical renter stays in the same property for two years and in a small number of locations as long as 30 months.

 

In Scotland, tenancy lengths hits 18 months, with renters in the east of the region staying in rental properties for 20 months on average, while those in the Highlands and Islands changed contract every16 months.

 

Northern Ireland is currently experiencing rentals lasting an average of 17 months.

Here’s the regional breakdowns of average private tenancies (all figures from Your Move):

 

– Wales: 24 months

 

– West Midlands: 22 months

 

– South East England: 21 months

 

– East of Scotland: 20 months

 

– East of England: 20 months

 

– London: 20 months

 

– East Midlands: 20 months

 

– North West: 20 months

 

– Yorkshire and The Humber: 19 months

 

– South of Scotland: 18 months

 

– Edinburgh & Lothians: 18 months

 

– Glasgow & Clyde: 18 months

 

– North East England: 18 months

 

– Northern Ireland: 17 months

 

– Highlands & Islands: 16 months

 

– South West England: 15 months

 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Map of the United Kingdom highlighting letting agent locations and routes.
For rent sign in front of a blurred house, real estate rental advertisement.
Otherwise, the market snapshot gives an upbeat picture...
House-shaped sign and key with 'For Rent' tag on turquoise wooden background.
The data comes from lettings agency Hamptons...
Person in suit using fingerprint scanner for digital security.
Propertymasrk has responded to the timetable...
Landlords are selling up and rents are rising as a...
This is apparent in the prime lettings segment, it's claimed...
More details will be released by the government later this...
Recommended for you
Latest Features
Lloyds has become a big Build To Rent player...
The business will be part of John Shepherd, Lomond's local...
This week's announcement is just the start...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.