Average rent up in six out of eight regions in March - Goodlord Rental Index
3 April 2019
Goodlord reveals key figures for the private rented sector in March 2019 based on tenancies processed through our platform, including average rents, tenancy lengths, voidage periods and more, in the Goodlord Rental Index.
Monthly rents increased from February to March in six of the eight regions Goodlord monitors across England and Wales, with decreases only in the West Midlands and East Midlands.
Void periods continue to be longest in the West Midlands, with an average of 33 days and shortest in the Capital, where the average time between tenancies was just 13 days.
London had the longest average fixed term tenancies, at 14 months, which is three months longer than the nearest region (the South East).
Tenants’ average monthly incomes have increased in five of the eight regions we monitor, with the most significant increase in the South East. Tenants’ average monthly incomes declined in the North West and Wales, with no change in the West Midlands.
The East Midlands and North East were the most affordable regions for renters, which is defined as a tenant’s yearly income divided by their yearly rent share. London continues to be the most unaffordable region for renters, followed closely by the South West.
Oh Goodlord Limited is an Appointed Representative of Goodlord Protect Limited for general insurance products and credit broking. Goodlord Protect Limited is directly authorised by the Financial Conduct Authority, registration number 836727. You can check this information on the Financial Services Register by visiting www.fca.org.uk/register or by telephoning 0800 111 6768 (Freephone) or 0300 500 8082 from the UK. The FCA is the independent watchdog that regulates financial services.