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Londoners Spend Less Time Living in One Place Than Any Other City
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
As part of a study into how happy British Homeowners and Renters are with their homes, the top cities where people don’t like to stay in the same house for too long were identified, and London came out on the top of the list.
More than 2,300 Brits took part in the survey, conducted by Duette which was aimed at homeowners and renters. When asked how long they typically rented a property for before moving on, the below cities in the UK were found to be the top movers who don’t like to stay in the same house for too long:
- London – 1 year (on average)
- Manchester – 1 year and 2 months
- Birmingham – 1 year and 6 months
- Nottingham – 1 year and 8 months
- Cambridge – 2 years
- Oxford – 2 years and 3 months
- Liverpool – 2 years and 5 months
- Newcastle – 2 years and 6 months
- Cardiff – 2 years and 10 months
- Bristol – 3 years
What’s more, almost two thirds of renters (63%) say they are satisfied with their current home, but almost a fifth (18%) are actively looking for a new place.
Affordability was found to be the top reason for wanting to move on (35%), while others say it was in order to move closer to work (28%) or for a better social life (17%). A lucky 10% move because they can afford to spend a little extra and live somewhere nicer.
Almost a third say that the only thing keeping them in their current home is that they are tied in by contract, so can’t leave any earlier.
Finally, nearly half (48%) of Britons who are currently renting are hoping to buy their own house in the near future, but 33% don’t believe they’ll ever be able to afford to buy their own home.
Ashleigh Noon, spokesperson for Duette, commented:
“Renters are always going to move around more often than homeowners, purely because they have the luxury to be able to do so, whether that’s to move into a nicer home or to save money on what they’re already paying. While it’s great to hear that so many renters hope to own their own home one day, it’s a sad reality that one in three don’t believe they will ever have enough money to be able to buy – something that many Britons feel. Although, what’s interesting is that we are one of the few countries where buying a property is such an important life goal.”
