Rents up 7% year-on-year in England

Rental growth sits at 7.3% year-on-year in England, bringing the average to £1,666 in November.

The biggest year-on-year change was in the North West, where prices are up by 11% compared to last November.

The majority of other regions – the East Midlands, North East, South East, South West and West Midlands – have all seen rises of 7%+.

The research comes from Goodlord’s Rental Index.

William Reeve, Goodlord’s chief executive, said: “Whilst month-on-month patterns continue to follow the predicted seasonal ebbs and flows, the year-on-year data highlights how much the market has changed over the last 12 months.

“Rents are up by over 7% compared to November 2022, reflecting the intensity of demand the market has experienced since then.”

Despite the onset of what is traditionally a slower season for lettings, sustained market demand saw rents hold broadly steady in November when compared to October figures.

Rents are marginally down, by less than 2%, compared to October.

This follows a consistent trend of rents dipping slightly between October and November.

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