Average rents rose across England during February and voids shortened across all regions monitored. Spring will likely see an uptick in tenant demand.
The Goodlord team
Mar 3, 2025
February brought a 4% year-on-year increase to rents. Rents in England are now £1,209 per property on average, compared to £1,162 in February 2024. This represents a slight slowing of year-on-year rental price growth compared to January 2025, which recorded a YoY increase of nearly 5%.
The biggest year-on-year rental rise for February can be found in the West Midlands, where prices are up by 7% compared to February 2024 (up from £934 to £1,000). The smallest annual increase was recorded in the East Midlands, where rents are up by a comparatively modest 2.5% (from £992 to £1,018).
- Month-on-month rents rise
- Voids shorten after sluggish January
- Analysis from Goodlord CEO, William Reeve
Month-on-month rents rise
February delivered a month-on-month rent rise. Prices increased slightly - up by 0.2% - from £1,207 to £1,209 per property, on average.
This could be an early indicator that we’re in for another summer of significant rent increases.
The biggest monthly rise in rent was recorded in the East Midlands, which saw prices jump by 3% (up from £987 to £1,018), followed by the South East, which recorded a rise of 2% (up from £1,320 to £1,350).
However, increases weren’t seen across the board. Several regions saw a slight decrease in rents during February; Greater London, the North East and North West all saw minor declines in rental averages.
Voids shorten after sluggish January
After hitting record lengths in January, voids headed downwards again during February, with all regions monitored seeing voids slashed.
Voids shortened from an average of 24 days in January to 20 days in February (down 17%). This is the lowest void length recorded since October 2024.
However, the average of 20 days for February 2025 remains higher than year-on-year figures - in February 2024, voids sat at 18 days on average.
Goodlord's CEO, William Reeve, comments
“Within the latest figures, we still see signs of rising demand in a market that refuses to cool off. Voids have shortened once again after January’s record-breaking lengths. And whilst overall rents for February are only slightly higher than January’s figures, we don’t always see month-on-month increases at this time of year. These are strong indications that the PRS will continue to heat up alongside the weather.”
