
Rents in England hit six-year high as voids drop and tenant salaries rise – Goodlord
The West Midlands saw the biggest annual rent rise at 6.6%, while rents dropped in the South West by 1.7%.

The West Midlands saw the biggest annual rent rise at 6.6%, while rents dropped in the South West by 1.7%.

England recorded the highest average private rent at £1,386, representing an annual increase of 7.8%.

March saw a sharp fall in buyer demand and agreed sales, with RICS citing subdued activity following the Stamp Duty deadline and growing macroeconomic uncertainty.

Regional disparities remained evident, with England seeing the highest average rent at £1,381, marking an 8.3% increase.

The data revealed that throughout the month, rents in England averaged at £1,209 per property, compared to £1,162 in February 2024.

Although December rents were down, they were still up over 3% from December 2023.

The average monthly price for a rental property in England dropped to £1,205 in November, a £33 decrease from last month's £1,238.

London saw the largest increase at 10.4%, while Yorkshire and The Humber had the lowest at 5.8%.

Month-on-month, there was a notable 12.6% drop in rents from September to October, from £1,417 to £1,238.

The upcoming Budget could play a significant role in shaping the landscape for both landlords and tenants.

Despite rising rents, affordability concerns are resulting in a more stable market as the year concludes.

This was down from 8.7% in the 12 months to May 2024 and below the record-high annual rise of 9.2% in March 2024.
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