A survey of more than 1,800 Private Rented Sector (PRS) landlords and tenants undertaken by BDRC Continental on behalf of Paragon Mortgages has revealed a high degree of tenant satisfaction.

Despite attempts by the government to dampen the buy-to-let market in 2015 and stimulate home buying, Q1 2016 saw demand for properties to rent continue to rise. The number of landlords reporting tenant demand as either increasing slightly or significantly stood at 39%, up from 34% in Q4 2015. A further 36% of landlords described tenant demand as being ‘stable’.

The sector is also witnessing high levels of tenant satisfaction. Nearly eight in ten (79%) tenants surveyed said they are satisfied with their current landlord. Further, 85% of tenants consider their current rental property to be their ‘home’ and 69% believe the level of rent they pay to be ‘good’ or ‘very good’ value for money.

Reflecting the changing balance in housing tenure, the average length of time tenants are spending in their current properties now stands at nearly seven years. The average length of time spent in the PRS in total was reported to be nearly 13 years.

John Heron, director of mortgages at Paragon, said: “The rise of the PRS and the decline of the social housing sector have been the predominant trends in the UK’s changing housing tenure over the last 20 years. The sector often suffers from negative PR and the good work done by the vast majority of landlords to provide homes for those who cannot or do not want to buy goes unremarked. This survey clearly demonstrates that the PRS is increasingly providing longer term solutions in housing.”