English rents ‘steady’, but high at £1,090 in March: Goodlord  

By: ameer@trustedteam.com

Average rents in England “held steady” in March at £1,090.57 compared to a month ago, up just 14 basis points, data from Goodlord shows, although this is the highest rate since last October.   

“Most regions saw a negligible shift in prices,” says the lettings platform’s latest Rental Index.   

The biggest monthly change was posted in the East Midlands, where prices fell 2.8% to £914. In the South West, prices rose the most by 2.4% to £1,080. In Greater London, rents edged 67bps higher to £1,855.  

However, year-on-year, rents are 8% higher than 2022 levels.  

The average void period for a rental property in England also saw little movement during March — inching up to 18 days from 17 days on average in February.   

The East Midlands had the highest number of voids, remaining unchanged month-on-month at 20 days, while Greater London saw the lowest, edging lower by a day to 12 days in the period.  

Goodlord chief operating officer Tom Mundy says: “March was a remarkably steady month for the market, matching February prices and voids very closely.   

“In the coming months, however, we predict rents to creep back up towards levels seen last summer.   

“The void picture in major urban areas, such as Greater London, offers another strong indication that demand remains high and shows no sign of abating. “  

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