Average UK private rental tenancy is now 20 months – and many are longer
The average UK private rental tenancy is now 20 months, almost a fifth longer than in 2014 according to research from Your Move.
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 private rental tenancy of 20 months, exactly in line with the all-UK average according to the data.
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.
Outside of London, across the South East and commuter belt, private rental tenancy contracts are typically longer.
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, private rental 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