February was one other robust month for the lettings market in line with the newest rental index from PropTech agency Goodlord.
The common price of hire held agency, with the typical for England dropping by simply £3, from £875 in January to £872 in February.
The South East, South West and West Midlands all noticed the typical price of hire enhance barely. The East Midlands, Greater London, North East, and North West all noticed slight decreases of between one and two per cent.
Void intervals decreased in all however one area throughout England throughout February, as the market picked up tempo as it headed into spring.
The West Midlands noticed the largest shift, with voids dropping from 26 days in January to only 14 days in February. The area hasn’t seen voids at this degree since March final yr.
Elsewhere, the North East noticed voids lower by 9 days on common. And Greater London noticed a drop from 25 days to twenty days.
The solely area to see voids enhance was the North West, the place charges ticked up from 23 days to twenty-eight days on common.
Across England as complete, the typical void interval is now 21 days, down from January’s 24 days.
Goodlord additionally measures the typical earnings of tenants, and says this dipped in February.
The determine declined by 3.6 per cent from £24,875 to £23,983. The common throughout the final 12 months is £24,344 – roughly in the center of the January and February figures.
Tom Mundy, COO of Goodlord, feedback: “Despite a lot consideration being educated on the gross sales market, the underlying power of the lettings market over the previous yr shouldn’t be missed. With the roadmap now in place and the climate bettering, regular rents and declining voids present constant demand throughout nearly all of England which is able to solely develop as we head into summer season.”
