The average cost of rent dipped for the fourth month in a row during November, as the market cools down ahead of the Christmas season.
According to the Goodlord Rental Index, rents reduced by over 2% across England during the month, and voids rose by 14% during what is typically one of the slower months for the market. However, year-on-year rental price averages continue to show increased buoyancy, despite a cooling of month-on-month demand.
The average cost of rent across England reduced by 2.4% during November, taking averages down from £1,276 in October to £1,245 in November. This is the fourth consecutive month of rental average reductions following the rental price peak in July, when prices hit £1,496.
This run of reduced prices means renters confirming a tenancy in November are paying £2,208 per year (or £184 per month) less than those who took on a new lease in July.
Rents dropped in all regions monitored, bar one. The biggest shift was seen in Greater London, where month-on-month prices were 4.5% lower during November, followed by the North West, which saw a 4.3% reduction.
The only region which saw a rise in rents was the West Midlands - although prices increased by less than £1 on average across the month.
Continuing the trend seen last month, the pace of year-on-year rental inflation is climbing once again. Compared to November last year, average rents are up by 3.3%. In November 2025, rental averages sat at £1,245 compared to 2024’s figure of £1,205.
This 3.3% rise is higher than October’s figure of 3.1% and significantly higher than figures recorded in September, when year-on-year rental inflation sat at 2%.
The most significant rise was recorded in the North West, where prices are 6.6% higher compared to the same time last year. This was followed by the North East, where prices are up 5% year-on-year.
This upswing in year-on-year figures indicates that there may still be new rental records to come in 2026.
Voids lengthened during November, as you would expect to see during a month of reduced rental averages. The average void period lengthened from 21 days to 24 days across England, a rise of 14%.
This also means voids are higher than at the same time last year - when voids sat at 21 days.
The longest void periods can now be found in the West Midlands, where properties are vacant between tenancies for an average of 30 days. And the lowest are in London, where voids are currently 20 days.
“We are seeing a pattern develop across these critical figures. Whilst month-on-month rental averages continue to mirror the seasonal ebbs and flows we’d expect of the market (particularly in the winter months), the uptick in the pace of annual rental inflation shows that supply and demand pressures aren’t abating. This could point towards new rental records being set next year and another intense year for the market, particularly as the Renters’ Rights Act comes into effect.”