The latest Rental Index from Goodlord has revealed that rents hit their highest levels since October over the last month.
Rents across England rose by over 1% between April and May with the average now being £1,183. This means rents are now 6% higher year-on-year. This is a rise of 1.4% compared to April’s figure of £1,166. It’s also the highest rent average recorded since October 2023, when rents on new tenancies were £1,190 per month. The average renter signing a new tenancy in May earns an annual salary of £37,095 – up 0.8%slightly on April’s figure of £36,810. The highest salaries were in Greater London (£49,883) while the average age of renters in England during May was 33.
Voids across England lengthened during May, hitting an average of 21 days. This is a rise of two days from April’s average of 19 days.
