People are renting for longer. For some, it’s now a deliberate choice – renting long term is seen as a modern option, proactively elected by many young people who baulk at the high prices property has reached – not just here in Edgware, but across the country – marking a shifting attitude towards homeownership in this country.
For others, on the other hand, the ambition to own their home is still there – but it feels out of reach and they consider themselves trapped in a rental cycle.
This isn’t just anecdotal. New research from LRG’s Spring 2026 Lettings Report has shed fresh light on something many estate and letting agents like ourselves at Petermans are already seeing first-hand: renting is no longer a temporary arrangement for most people. It has become, for a growing share of the population, a potentially permanent way of life.
The report surveyed 650 landlords and tenants across England and Wales. It found that six in ten renters have stayed in the private rented sector longer than they originally planned, with four of those six in ten saying it had been significantly longer than planned.
Only 1% had become homeowners.
It is hard to read those numbers without acknowledging what is driving them. House prices across England now sit at more than eight times average earnings, according to ONS data, while tighter mortgage affordability criteria have made it harder than ever for would-be buyers to get a foot on the ladder. Here in Edgware, we know the situation will be even more extreme than this for many. The average sale price here in Edgware over the past 12 months has been £498,646 according to Dataloft by Pricehubble.
That reflects a 3% increase in average sale prices over the same period, which is contrary to many other parts of London. Generally this is viewed as positive news, but for those in rented accommodation with aspirations to purchase a home, it is unfortunately not viewed as quite such good news – especially when you take into account that the average rent here in Edgware is now £1,810, which means for many, the idea of trying to save for a deposit is simply out of the question.
For many renters, the goal of ownership has not disappeared, though; it has, however, moved out of reach.
Tenants Are Putting Down Roots
One of the more interesting revelations to come out of the report is just how settled tenants have become. I’ve mentioned some stark statistics in this article so far – but it depends how we view data and what we consider ultimately to be important.
Perhaps a settled life matters more – to community spirit and to mental wellbeing – than merely owning the title to a property?
Nearly six in ten tenants surveyed are living in the same property they have occupied for at least three years. A quarter have been in the same property for more than a decade.
That is a remarkable statistic, and one that challenges the perception of renting as merely a short stop on the way to homeownership. Because for these tenants, these properties are very much their homes – they aren’t just places to live. It’s about more than just a roof over their heads.
The average private renter in England now spends 4.6 years in the same home, up from 3.7 years in 2011 according to the English Housing Survey. This is a change that has been building in the background for some time – and whilst in part it may be driven by the various financial, political and cost of living crises we have witnessed over the past fifteen years, the outcome is what we as an industry – and as a society – need to consider.
For landlords and their agents, this presents both an opportunity and a responsibility, and perhaps for anyone selling a property, a little risk to factor into the equation if it means that the general pool of buyers might be shrinking as a result.
Long-term tenants who feel genuinely settled are, on the whole, better for everyone. They tend to look after a property, maintain consistent rent payments, and they reduce the costs and disruption that come with frequent turnover. The question is whether the homes being offered – and the way they are managed – are actually meeting the needs of people who may be staying for years, not months. The evidence shows that many tenants want to, or at least are inclined to, stay for many years; a savvy landlord will make sure that the property they let out is fit and suitable for that long-term need.
A Market That Reflects What Renters Actually Need
The introduction of Assured Periodic Tenancies under the Renters’ Rights Act is likely to feel less disruptive in practice than the wider commentary has suggested and as many have anticipated – precisely because tenant behaviour has already adapted.
Most tenants are not interested in cycling through a series of short-term lets. They are living in their homes – as we see, on average for over four and a half years – building routines, creating lives and community connections and a sense of belonging, raising their families in one place. These tenants will hope that their landlord and agent will treat them accordingly. The sure way to happy tenants and maintaining good, solid rental income is, of course, to do so.
On the other hand, it is important to take note of another element of the LRG report, which is the emotional picture the research has painted. That is a little more complicated and uncomfortable to read.
Because whilst just over half of tenants said their rented property felt like home, nearly a quarter said it always feels temporary – and around 20% of responding tenants said it simply cannot compare with owning.
Even among those who have rented for more than ten years, one in five still viewed their situation as a stopgap rather than a settled reality. That is something that anyone managing long-term tenancies or letting out properties or portfolios privately should be really mindful of.
What This Means in Practice
The 32% of those in rented accommodation who have described feeling trapped and frustrated are worth paying attention to. Long-term renting, when it works well, can genuinely suit people’s lives and be a wonderful part of wider community cohesion. But it only works well when the property is well maintained, the tenancy is managed fairly, and tenants feel secure. In many ways, whilst for many in the industry it seems like a sledgehammer to crack a nut, this was the main driver behind the Renters’ Rights Act.
In any case, this is where the role of a good letting agent becomes particularly important. Proactive communication, timely maintenance, transparent and fairly conducted rent reviews; all can make a real difference to whether a tenant feels settled or trapped.
The data suggests there is a significant portion of the market where that gap has not yet been closed.
For landlords considering their position in light of the new legislation, the message from this research is broadly reassuring. Most renters are not looking to move frequently. Many would rather stay in one place – if the conditions are right.
Building that kind of stability intentionally, on the part of the landlord and their agent, benefits everyone involved.