Shorter Tenancies favoured by renters
The latest research from Knight Frank shows that more than half (53%) of tenants now favour a six month or one year tenancy for rented accommodation. This reflects tenants’ desire to remain mobile, with the largest group of tenants who have lived in more than one privately rented home identifying the desire to upgrade to a larger or nicer property as the reason for their last move. In this highly cost sensitive market, affordability has fallen from 1st to 5th over the last year as a concern amongst renters. This reflects the more positive sentiment linked to rising salaries and the general economic recovery.
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