For 76% of respondents, they would like to buy their own home, but at the same time, 51% of renters said they would like to move out of their current property but feel unable to.
Tenancies are also becoming longer. The average tenancy length in the private rented sector is now estimated at 4.7 years, almost a year longer than a decade ago.
TDS said the findings suggested the private rented sector was increasingly serving as a long-term housing option for a broader range of households, rather than simply acting as a stepping stone to homeownership.
Dr Jennifer Harris, head of policy, research and social impact at TDS Group, said: “Our research highlights just how much the private rented sector has changed. What was once a sector associated particularly with students and younger people is now home to a much wider range of households, many of whom expect to remain renters for the long term. It is important that housing policy keeps pace with that changing reality.”
Harris said the findings highlighted a disconnect between renters’ housing aspirations and what they felt was achievable.
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She said: “The clearest message from the findings is the lack of choice many renters feel they have.”
Prime Minister Andy Burnham has made housebuilding a key part of his agenda, with industry figures arguing that increasing the supply of homes across all tenures will be essential to improving affordability.
Harris continued: “Reforms to improve renters’ experiences and rights are important, but ultimately we also need to address the shortage of housing options available to people. A significant programme of housebuilding across all tenures – including homes for ownership, private rent and social housing – will be essential if we are to give people genuine choice over where and how they live.”
