Millions of 'revolving door' renters trapped in cycle

A new report from the National Housing Federation has revealed that there is a new generation of private renters that are stuck in a cycle of short-term lets, leaving them unable to plan for the future.

The report highlighted that private renters are now nine times more likely to have moved in the past year than those who own their homes.

Renting is on the rise, with almost a million more tenants in England than there were five years ago. The research also added that 28% of private renters feel that they can’t put down roots because they might have to move again soon – rising to almost 32% among renters with children in the household.

The lack of stability that comes with renting is met with the added frustration that most didn’t anticipate they would still be living as a renter at this point in their life. 63% of private renters aged 25 – 44 years old said they thought they would have bought their own home by now. Of all private renters, 56% say that they’ve rented for longer than planned because they have no alternative.

Previous research found that 70% of private renters in England say that they would prefer to own their own home. The National Housing Federation highlights that rising house prices and stagnant wages have left renting from a private landlord the only option for many people.

There are now almost nine million private renters in England – a figure that has increased at the same time as home ownership has been falling for the first time in decades. Over four million households rent from a private landlord and with typical tenancies just 12 months long, this often leads to worry about when the next move will have to take place and if children will have to be uprooted from their friends or schools.