The cost of rent across England rose for the fifth consecutive month during May, while voids remained steady, according to Goodlord’s Rental Index.
Six of the eight regions monitored by Goodlord saw rents rise over the course of the month; the average cost of rent per property in England was £1,111, up from £1,103 in April.
Rents reached their highest level since September 2022.
Regionally, the biggest shift in prices during May was in the South West, up by nearly 3%, from £1,062 to £1,092.
Only two regions recorded a decline in the cost of rent, and it was a negligible one; the East Midlands saw costs drop by 0.47%, while the North East’s costs dropped by 0.19%.
Voids held steady during May, with the English average remaining at 19 days.
The highest voids were found in the West Midlands, where averages stood at 23 days, while London had the lowest void periods at 12 days.
Oli Sherlock, director of insurance at Goodlord, said: “As we head into what are traditionally the busiest months of the lettings calendar, it remains to be seen as to whether we’ll hit the same rental cost highs recorded last summer.
“But the data is pointing to the ongoing rise in prices continuing and, with voids also holding firm, the market is definitely primed to heat up as we head into June.”
