Rents rose during May, with price rises recorded in all but one region of England, says Goodlord.<\/p>\n
The average rent of a new tenancy is now \u00a31,226, up from \u00a31,216 in April \u2013 a rise of almost 1%. This is the highest rental average recorded by the Index since October 2024.\u00a0<\/p>\n
The most significant swing was recorded in the North East, where rents were up by 2.2%. This was followed by the East Midlands, which saw a 1.8% rise in costs.\u00a0<\/p>\n
All regions recorded an increase in average rents, with the exception of the South West where prices dipped by 0.6%.<\/p>\n
The average cost of a rental property in May was 3.7% higher than the same time last year. In May 2024, prices were \u00a31,183 \u2013 \u00a343 per month (or \u00a3516 per year) cheaper than current prices.\u00a0\u00a0<\/p>\n
However, May\u2019s year-on-year rental cost rise of 3.7% is lower than April\u2019s figure of 4.2% and March\u2019s 4.6%. This indicates that, although prices over the summer are expected to break records, the pace of rental inflation is beginning to settle into a more moderate pattern.\u00a0<\/p>\n
For the third month in a row, voids held steady; remaining unchanged at 21 days.\u00a0<\/p>\n
However, it was a decidedly more mixed picture at regional level. Across the East Midlands, North West, South East and South West, voids shortened as tenant demand spiked.\u00a0<\/p>\n
At the same time, voids lengthened considerably in the West Midlands (up 53%) and in Greater London (up 19%).<\/p>\n
Goodlord chief executive William Reeve says:\u00a0\u201cData from the last six years consistently shows that rental prices peak in late summer and early autumn.\u00a0<\/p>\n
\u201cThe way the numbers are currently looking suggests that this year will be no exception and that a range of new rental records will be set in the coming months.\u00a0<\/p>\n
\u201cAlthough the pace of year-on-year increases is starting to slow \u2013 and this is definitely a trend to watch closely \u2013 ongoing supply issues coupled with landlord jitters ahead of the Renters\u2019 Rights Bill means that rents remain on track to rise for the foreseeable.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Rents rose during May, with price rises recorded in all but one region of England, says Goodlord. The…\n","protected":false},"author":2,"featured_media":153359,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5008],"tags":[748,393,4884,53972,17649,16,15],"class_list":{"0":"post-153358","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-england","8":"tag-britain","9":"tag-england","10":"tag-great-britain","11":"tag-housing-shortage-affordability","12":"tag-rent","13":"tag-uk","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/153358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=153358"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/153358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/153359"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=153358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=153358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=153358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}