The latest rental index from Goodlord has shown that April rents are up by nearly 6% year-on-year, with the new average price per property now £1,166 per month.

Throughout April, voids held steady across England and remained in line with year-on-year figures, perhaps indicating a more predictable pattern of demand across the market.

The biggest year-on-year changes have been recorded in the South West, where average rents for April are up by 11% compared to the same time last year. Average monthly rents in the region have risen from £1,062 per property to £1,184.

The smallest year-on-year change was recorded in Greater London, where rents are up 3% compared to 2023.

Rents across England rose by half a percentage point (0.6%) between March and April; up from an average of £1,160 in March to £1,166 in April.

The most significant month-on-month shift was recorded in the East Midlands, where rents were up by nearly 3% compared to March.

Only two regions recorded a reduction in rents. With prices down by 1% in the West Midlands, and 0.15% in Great London.

The highest rents are currently found in Greater London, at £1,951, and the lowest in the North East, at £863 per month.

Goodlord chief executive William Reeve commented: “The latest data show that year-on-year rent rises continue, with rents up 6% compared to this time last year. Although inflation has now dropped to 3%, the ONS is reporting earnings growth of 6%. “

He added: “Rents neither outpacing nor lagging earnings implies the market is stabilising – an idea supported by what we see with voids which are tracking closely to the 2023 figures.”