MARKET INTELLIGENCE

Why double renting is becoming the norm

Homeowners wanting to move but unable to sell are becoming tenants and landlords
This six-bedroom 4,000 sq ft house in Richmond, southwest London, is available to rent at £15,000 a month through Hamptons International
This six-bedroom 4,000 sq ft house in Richmond, southwest London, is available to rent at £15,000 a month through Hamptons International

Many people moving to the country are “double renting”. This means that they let their home in the city and rent another in a rural location. They hope to sell their London homes when the market revives, but in the meantime they are discovering whether they are really suited to country life.

“We’ve seen an increase in double renters,” says Bruce King, the director of the Saffron Walden branch of Cheffins. “This is mainly because people are looking to move to the countryside from the capital, but haven’t been able to sell their London home for the price they wanted.”

There are also double renters living in areas where property prices, and therefore stamp duty costs, are high. In these locations some upsizers are renting