Latest English Housing Survey data reveals key insights into UK rental sector

Newly released data from the 2022/23 English Housing Survey has provided important insights into the UK’s rental sector. A useful tool for professionals in the English housing sector, the survey drills deep into numerous aspects including renting.

The most recent insights reveal that renters now make up 35% of all households in England, with 4.6 million households renting privately (19% of all households) and 4 million in the social rented sector (16%).

Those renting privately were most commonly aged 25 to 34, with this group accounting for 30% of private renters. Household Reference Persons (HRPs) were also younger in the private rented sector than in socially rented or owner occupied accommodation, with a mean age of 41.

In addition to looking at the English rental sector’s key characteristics, the survey also considered renters’ views, motivations and satisfaction levels. It found that 82% of private renters were satisfied with their accommodation, compared to 74% of social renters.

Furthermore, reasons for moving were largely positive, with 63% of private renters who moved in the previous year (equating to 424,000 households) stating they had ended their tenancy because they wanted to move.

The survey also shows that private renters are spending far less time in their homes than both social renters and owner occupiers, with 22% of those renting privately having spent less than a year in their accommodation at the time of the survey.

The average length of residence among private renters was found to be four years, while for social renters it was 12 (and 17 for owner occupiers). 39% of private renters reported renting private for between three and 10 years.

Renters’ views on home ownership were also sought. Overall, 43% of renters (around 3.6 million households) expected to buy a home at some point in the future. There was a marked difference between renters in London – 50% of whom expected to buy at some future point – and those living elsewhere in the UK, where just 41% expected to buy. Expectations were also higher among private renters, 59% of whom believed they would buy a home at some point in the future.

Of those who didn’t expect to buy a home in the future, 19% cited their reason as liking their current home, 11% were keen to avoid the commitment of buying and 10% liked the flexibility of renting.

The ARL highlights that these latter points are important to understanding renters’ needs and taking a long-term view on how to provide for them. Brendan Geraghty, CEO of the ARL, comments:

Understanding long-term rental trends, including renters’ expectations, underpins the design of future provision. Anticipating needs and exceeding expectations doesn’t happen by chance – it requires a deep understanding of what renters want both now and in the future. That’s key to providing homes that renters love and to supporting renting as a positive lifestyle choice.

Full details of the latest English Housing Survey insights can be found here.