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The Goodroad Rental Index found that rents rose 5.7% year-on-year in April, driven by strong gains in the South West.
The price per property last month was £1,166. By comparison, the average price in April 2023 was £1,103.
In the South West, prices rose by 11% compared to the same period last year, rising from £1,062 to £1,184 per property.
The smallest year-on-year change was in Greater London, where rents rose by 3% compared to 2023.
“The latest data shows that rents continue to rise year-on-year, rising 6% compared to this time last year,” Goodlord CEO William Reeve said.
“While inflation has now fallen to 3%, the ONS is reporting profit growth of 6%.
“Rents neither exceeding nor lagging revenues means the market is stable, and this idea is borne out by the hollowness we see near the 2023 numbers. Masu.”
Only two regions recorded a decline in rents. It fell 1% in the West Midlands and 0.15% in Greater London.
Currently, rents are the most expensive in Greater London at £1,951 a month, and the lowest in the North East at £863 a month.
While rents are rising, vacancies are stable. The average gap period in April was 19 days, up from an average of 18 days in March.