Average tenancy length rises to 20 months

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Average tenancy lengths reached the longest on record in the first quarter of 2013 according to figures from the Association of Residential Letting Agents (ARLA). Tenants are now taking a longer term view on renting property, reflected in the average rental duration which has climbed to 20 months, up from 19 in the first quarter of 2012. The majority of ARLA's members (56.9%) reported that there are more tenants searching for homes, than there are available for rent. ARLA managing director Ian Potter says: “Our data suggested that tenants are increasingly sitting tight in their property and either reluctant, or unable to move. This stagnation means fewer and fewer properties are freed up.” April 26, 2013
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