The index, which has been tracking the contracted rents of new tenancies across England for over six years, shows that the average monthly price of a rental property in England last month was £1,496.

The latest figure breaks the previous rental record, set in July 2024 of £1,470.

It also found that month-on-month rents increased by 18.3% compared to June.

Goodlord explains that in July demand is driven up by student lets changing hands, graduates moving to new cities, and families looking to secure a home before the new school term.

On a regional basis, the cost of rent in the North West jumped by 42%, while South West residents saw 34% increases in average rents and those in the North East faced a rise of 27%.

The smallest increases were found in Greater London increasing by 4%, followed by a rise of 6% in the South East.

Overall, renters in England who secured new properties in July are paying £231 per month or £2,772 a year, more than renters who secured a new tenancy in June.

However, Goodlord suggests that the latest figures indicate that the market could be approaching rental price stability.

Throughout 2025 to date, year-on-year rental inflation has been steadily reducing.

In July, prices were up by 1.8% compared to the same time a year ago while February recorded year-on-year inflation at the much higher rate of 4%.

Elsewhere, the index showed that the average void period shortened from 20 days in June to 12 days in July, representing a reduction of 40%.

This is only slightly higher than the void periods recorded at the same time last year, when they hit 11 days.

Commenting on the figures, Goodlord chief executive William Reeve says: “Throughout the year the data has been pointing to two clear trends: firstly, that we were likely to see new rental records set over the summer and secondly; that the year-on-year pace of price increases overall is starting to slow.”

“This month’s figures show both predictions coming to pass. Across six years of operating the Index, we’ve never recorded a higher monthly rental average.”

“Likewise, every month of 2025 has brought a softening of year-on-year rent inflation. So whilst the market continues to operate under intense pressure, the late autumn could bring something more predictable in terms of rents and voids.”