How far do tenants move?
In this article we illustrate how far tenants moved home pre pandemic and we speculate how far they may move post pandemic
- Dataloft Rental Market Analytics allows us to understand the movement of tenants. Pre-pandemic a quarter of tenants moved less than 1 mile and 5% moved from overseas, will the patterns change?
- In the UK 25% of tenants move less than 1 mile, the North East has the highest proportion of local tenants, 32%. In the UK 24% of tenants move over 25 miles, the North West is the most footloose region, 32%.
- In the UK 5% of tenants move from overseas compared to 9% in London. Covid-19 could cause a short-term drop in overseas renters.
- Post-pandemic we may see a shift in renters movement; 58% of agents believe properties in urban areas will be less enticing and 74% believe there will be a shift in demand for properties close to green space (Source: Dataloft Rental Market Analytics, Royal Institution of Chartered Surveyors).
