Most tenants 'do not see PRS as a short-term option' @PersonalAgentUK
5th November 2014
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This is according to new research from Knight Frank and YouGov, which found less than one in four tenants expect to stay in the PRS for under two years. 

In a survey of 3,5000 renters, the organisations found just under a third (32 per cent) live in rented accommodation as it suits their lifestyle and/or they do not want to pay for a mortgage.

Some 24 per cent of respondents said they expect to always rent and to never own their home. A further 15 per cent predicted they will live in the PRS for the next five years. 

Grainne Gilmore, head of residential research at Knight Frank, stated: "Our survey shows that the majority of renters do not view the PRS as just a ‘short-term’ move.

"The dynamics of the housing market, where supply has failed to keep up with demand which in turn has played a role in pushing up house prices, has also put home ownership beyond the reach of many young workers, especially in key employment hubs."

Ms Gilmore added that when combined with the growth of an increasingly mobile and flexible workforce, these factors have served to fuel the expansion of the PRS.

The survey revealed the most tenants are willing to pay for their rent is 40 per cent of their gross income. However, this rose to more than 50 per cent among ten per cent of the respondents who were based in London. 

When it comes to transport links, more than one in three renters want to be within a six-minute walk of the nearest train station or bus stop. Meanwhile, 78 per cent would like to be within one km of transport links.

Off-site parking was revealed to be the amenity that most tenants are willing to pay extra for, while fully furnished properties are also highly desirable, especially among younger renters.

Information used from 

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