Ladybird Living – Your London Estate Agent
Rents highest in London in April - May 2023
According to Goodlord, rents have been continuously on the rise across England this year with average rents being the highest in London this month.
Average rents in the West Midlands and South-East had smaller increases each month with an increase of 0.22% and 0.68% respectively. London, however, saw significant rises in average rents in April 2023 with a 2.28% increase, as the average rent in the capital increased by more than £40. Rental prices in London are currently 11.4% higher compared to last year.
Similar rent increases can be seen in the East Midlands and North-East with a 3.51% and 2.27% increase respectively in these areas.
The only area of the country where rents decreased was the South-West decreasing by -1.6%.
£1,103.19 was the average rent price across England this month, demonstrating a 1.16% increase from the previous month.
Void periods also increasing:
The average void period for a rental property has also been increasing or remaining the same across England this month.
The areas where void periods rose the most were the South-West and the North-West, in which void periods increased from 18 to 22 days.
No changes in void periods were seen within the South-East and North-East – they remained the same at 18 and 17, respectively.
The information in this post is valid to the best of our knowledge on the date of posting. It is advised that you seek independent advice based on your individual circumstances.
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