The number of voids fell across England in February according to Goodlord, though this increase in letting activity has yet to raise rents which fell throughout the month.

Property technology company Goodlord has attributed the fall in voids to a sustained high demand for rental properties.

This has not yet produced an increase in prices with rents dipping by an average of 2.6% across England in February, with the average price per property sliding from £994 to £968.

The biggest fall in voids was recorded in the South West where voids reduced by 27% in February, from an average void period of 19 days down from 26.

The East Midlands and Greater London recorded the second and third largest falls in voids over the same period respectively.

Voids fell in the East Midlands by 25%, from 24 to 18 days, and by 24% in the capital where void periods reduced from 17 to 13 days.

The only region where voids increased was the West Midlands, where a rise of 22% was recorded – reflecting an average void increase to 22 days from 18.

Greater letting activity has not yet caused rents to increase, even in the capital.

In Greater London, despite a 24% fall in voids, rents still reduced on average by 3.6%. The average cost of rent in the capital has fallen from £1,675 to £1,609.

Despite the fall in voids, Goodlord chief operating officer Tom Mundy is not surprised by the subdued picture in rental prices given the time of year.

However, Mundy did warn about the potential impact of rising salaries among renters: “The shifts in average salaries for tenants is something to keep an eye on – as employers respond to the Great Resignation and staff court higher pay packets, we are seeing take home pay increase.

“This could well begin to drive up rental prices once again as tenants max out their budgets in order to secure the best properties.”

According to Goodlord data, the average salary per tenant in England has now risen to £28,115.