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Median rents in England “remained unchanged” in March at £1,090.57 from the previous month, up just 14 basis points, Goodlord’s figures show, though that’s the highest since October last year.
“In most regions, prices have changed little,” says the latest rental platform rental index.
The biggest monthly change was recorded in the East Midlands, where prices fell 2.8% to £914. The southwest saw prices rise the most, up 2.4% to £1,080. In Greater London, rents rose 67 basis points to £1,855.
However, year-on-year rents are 8% higher than 2022 levels.
The average period of non-use of leased property in England in March also remained virtually unchanged – up to 18 days from 17 days on average in February.
The East Midlands had the highest number of voids remaining unchanged from the previous month at 20 days, while Greater London had the lowest, dropping by a day to 12 days over the period.
Goodlord COO Tom Mundy says: “March has been a surprisingly stable month for the market, matching February prices and voids very closely.
“However, in the coming months, we predict that rents will rise again to the levels seen last summer.
“The picture of emptiness in major metropolitan areas such as Greater London is another strong indication that demand remains high and is not going to decline. “
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