A survey from the Deposit Protection Service (DPS) has found that half of all tenants who moved during the past 12 months found it ‘difficult’ or ‘very difficult’ to secure a new rental property.
The firm, which protects tenants’ deposits, reported that the proportion of respondents who had moved during the previous year and who had encountered difficulties increased by almost 10% (8%) from 42% to 50% between March 2023 and March 2024.
Just 9% of respondents said they had moved property during the last six months compared with 24% who moved between March and August 2023.
Overall, 68% of respondents said they hadn’t moved during the past year, according to the organisation.
While 76% of non-movers said they were happy with their decision, 24% would like to have moved but didn’t.
Of those who would liked to have moved, 21% said they were paying more than they could afford for their present rental properties.
Matt Trevett, managing director at the DPS, said: “Finding a new rental property is getting tougher for a growing number of tenants, especially for younger, non-student renters and those who are not in employment, due to a combination of fewer rental properties on the market, the current cost of living, as well as increased mortgage costs for landlords.
“At the same time the proportion of tenant respondents moving home has more than halved during the past 12 months leading to some tenants stuck in properties that they are financially struggling to afford.
“We would encourage tenants to engage in open and constructive dialogue with their current and future landlords about their circumstances throughout their tenancies, to give both parties the best chance of avoiding a dispute at the end.”