Average rents in England hit their highest level for the year coming in at £1,104 per property, according to Goodlord.
The lettings platform adds that rents rose 6.9% higher than a year ago, despite price falls in some areas, and that voids inched up compared to August, but remain much lower than annual averages.
Its September Rental Index says: “The data therefore points to a very slight cooling of demand during September compared to the lettings frenzy seen throughout the summer, but overall paints a picture of a much stronger rental market than seen at the same time last year.”
The survey says the North West saw “a significant increase” in the average cost of a rental property, with prices rising by 11% – from £807 to £901.
London also posted a 2.5% rise, taking the cost of a rental property in London from £1,725 to £1,770. The West Midlands recorded a 1.5% rise.
But the East Midlands, North East, South East and South West all posted falls in the cost of rent, ranging from 1% to 5%.
The index says after five months of diminishing void averages across England, September brought an end to this trend.
There were increases in void periods in all regions monitored, except for Greater London.
However, the average void period across England is still only 17 days – lower than the averages recorded between January and May of this year. Overall, void periods remain 10.5% lower than a year ago.
The biggest jumps in voids were seen in the North East and the North West.
The North East recorded a 37.5% increase in the average void period, moving from 8 days in August to 11 days in September. Despite this, the region continues to have the lowest void periods overall – a title it has held for three consecutive months.
The North West saw voids increase by 38%, taking averages from 18 days to 25 days. This makes it the region with the highest overall void periods.
Greater London saw void periods reduce from 13 days to 12, the only reduction recorded across the country.
The index pointed out that the average income of an English renter also rose during September, with salaries lifting from an average of £25,264 in August to £26,764 last month – an increase of 5.9%.
The average age of an English renter has also increased, rising to 34 years old this month, compared to August when the average age was 32.
Goodlord chief operating officer Tom Mundy says: “The year on year trends for the rental market are hugely encouraging.
“The void and rental averages in September 2021 compared to last year show just how strongly the market has rebounded.
“Rents are currently very high, on average, and void statistics continue to be lower than we’d expect, which sets the market in very good stead ahead of the winter months.”
