Voids tumble as ‘summer of lettings’ swings into gear - Goodlord Rental Index
Voids are tumbling across the country and rents continue to be more resilient than predicted, shows the latest Goodlord Rental Index.
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Voids are tumbling across the country and rents continue to be more resilient than predicted, shows the latest Goodlord Rental Index.
There was little change to average rents in England in April 2021 showed the latest Goodlord Rental Index, but void periods rose in most areas of the country.
Each region monitored by Goodlord saw a rise in the average cost of rent during March, the first time we have seen such a uniform increase across England since July 2020.
An analysis of 255,000 tenancies shows that revenues from student lets dropped by 30% in 2020, with the amount spent on student properties dropping from 12p in every £1 to just 8p between 2018/19 and 2020.
Once lockdown came into effect on 23rd March 2020, the impact on the sector was swift, but the pace of activity appears to be increasing, pushing volumes much closer to those seen in 2020 before the pandemic hit.
Average voids dropped by 3 days across England as a whole shows the latest Goodlord Rental Index, with certain regions seeing a sizeable reduction in voids.
Rents are holding steady in the regions monitored by the Goodlord Rental Index, despite the slower pace of lettings at the beginning of the year.
The cost of rent saw only minimal change in the regions monitored by Goodlord during December, with average void periods either improving or holding steady.
The cost of rent dropped in every region monitored by Goodlord during November, with void periods edging up in most regions.