The latest rental market snapshot from PropTech supplier Goodlord suggests that the market is still strong as we head into autumn – but there are signs of slowing.

All regions of Britain are still recording void periods below their annual average and the overall average void period in England remains low at 15 days.

The North West saw the biggest month-on-month decrease in August, with its average void period dropping from 20 days a month earlier to 18 days in August. Both London and the East Midlands also saw their average void period reduce by a day on average last month.

The average void period climbed two thirds in the South West, however, from nine days a month ago to 15 days now, with smaller increases in the North East and South East. There was no change in the West Midlands, at 18 days.

Rents continued to increase in England with the national average at £1,097.41 –  up 3.5 per cent on last month.

In the South East, the average monthly rent hit £1,293 in August, up 14 per cent from £1,137.29 in July. Large rises were also seen in the East Midlands and London, while smaller increases were the order of the day in the West Midlands and the South West.

In the North East, the average monthly rent dropped by seven per cent to £809.79 in August, while in the North West, the average monthly rent decreased by five per cent to £807.17 – England’s lowest. 

Tom Mundy, Goodlord’s chief operating officer, says: “The picture for the lettings market remains mostly positive heading into autumn. August has capped off a hugely busy summer for the industry.

“Lack of stock could be contributing to rising rents in much of the country, but, with average void periods remaining low, the indications are that demand remains strong heading into September and letting agents can expect a busy few months as we head into the final quarter of the year.”

Void figures

Cost of rent figures