Void periods down for five out of eight regions in February - Goodlord Rental Index
6 March 2019
Goodlord reveals key figures for the private rented sector in February 2019 based on tenancies processed through our platform, including average rents, tenancy lengths, voidage periods and more, in the Goodlord Rental Index.
London had the highest monthly rent across tenancies processed through the Goodlord platform in February 2019, at £1619 per month. Rents in London were also 114% higher than in the rest of England and Wales.
Void periods were longest in the West Midlands, with an average of 33 days. They were shortest in the Capital, where the average time between tenancies was just 13 days. Void periods were down in February for five out of the eight regions across England and Wales.
London had the longest average fixed term tenancies, at 14 months, which is three months longer than the nearest region (the South East).
Tenants in London have the highest average income, at £36,000, while tenants in the North East have the lowest average income, at £17,000.
The West Midlands is the most affordable region for renters, which is defined as a tenant’s yearly income divided by their yearly rent share. Across all eight regions, tenants spent approximately 29% of their income on rent.
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.