Tenants flock to Wakefield
In Wakefield 28% of new tenancies were signed by people moving into the area, while Coventry (26%), Brighton (24%) and Nottingham (20%) were also high on the list.
In Greater London 18% of new tenancies were taken by outsiders, making it the fifth most popular city for renters from outside who previously lived elsewhere.
In terms of retaining tenants Belfast (99%), Cardiff (97%), Birmingham (95%), Sheffield and Bristol (95%) were top in terms of the proportion of new tenancies signed by people who already lived in the city.
Martin Totty, chief executive of Barbon Insurance Group, parent company of HomeLet, said: “Several hotspots around the country that are attracting and retaining tenants.
“For example, with its proximity to the burgeoning local economy of Leeds, Wakefield is an attractive and affordable location for tenants to move to.
“Meanwhile, cities such as Birmingham and Bristol appear to be ‘must stay’ locations, with tenants increasingly choosing to settle and stay in these cities, and continuing to choose to privately rent property in order to do so.
“While the London rental market continues to be popular, with the capital inevitably drawing in large numbers of people, it’s not the only part of the country attracting incomers, with tenants also choosing cities such as Nottingham, Brighton and Coventry.”