Tenants stay longer as rental inflation bites – TDS

Tenants across England and Wales are remaining in their rented homes for much longer, with the average tenancy now lasting 1,085 days, equivalent to nearly three years.

That’s according to new figures from The Deposit Protection Service (The DPS), which has found that renters are staying in their homes 19.75% longer than the 906-day average recorded throughout 2024.

Also, it’s a striking 37.25% increase compared to 2021, when tenancies averaged 773 days.

The DPS, a leading protector of rental deposits, attributes this trend to challenges tenants face in the housing market.

Tenancy duration grew during pandemic

The organisation’s managing director, Matt Trevett, said: “The average tenancy increased during the pandemic, largely because of emergency restrictions on moving.

“Our data show a year-on-year increase in the average number of days our tenant customers spend in a property since February 2022, when those restrictions ended.”

He added: “Difficulties in securing rentals and the prospect of paying higher rents for a new property mean that many tenants are staying put for much longer.”

Average rent deposit

Alongside longer tenancies, the cost of renting has also climbed with The DPS reporting that the average rental deposit rose from £948.88 in 2022 to £1,170.63 by May.

It also says that since deposits fluctuate in line with rent prices and the 23.36% increase suggests a corresponding rise in average rents over the same period.