Average rents lifted across most English regions in April, rising 1.2% to £1,103, with most areas notching up their highest rentals costs of the year as contracts come up for renewal, data from Goodlord shows.
Last month saw the biggest jump in average housing costs for Londoners so far in 2023, rising by 2.3%, to £1,897, which is 11.4% higher than a year ago, says the lettings agency’s latest Rental Index.
Until now, rents in the capital, the highest in the country, had edged higher or lower by less than 1% month-on-month.
The East Midlands and North East also saw rent prices jump, rising by 3.5% to £946 and 2.3% to £819, respectively.
The South West is the only area of the country that saw costs dip, registering a 1.6% fall to £1,062.
The report says: “Rent prices in the South West fell sharply in October 2022 and have been decreasing steadily ever since.”
It adds that the average void period for a rental property in England inched up from 18 to 19 days last month, a 0% year-on-year increase, “suggesting that this month’s void average is consistent with seasonal trends”.
The most significant increases in the number of void days came in the South West and the North West, which both saw jumps from 18 to 22 days, a 22.2% rise.
Goodlord director of insurance Oli Sherlock says: “After a steady start to the year — with barely any significant change at all between February and March — we’re seeing movements in the rental sector.
“Rents continue to slowly and steadily rise, which is a pattern we would typically expect to see during this time of year as more contracts come up for renewal.
“As we head towards the summer months, we will be keeping a close eye on void periods as more and more tenants look for new homes.”
