New data from Proptech firm Goodlord suggests that the average void period for England and Wales is just 21 days.
The longest typical period, 31 days, is found in the West Midlands while perhaps unsurprisingly the shortest void is found in London at 12 days.
Other data from Goodlord’s market snapshot shows that London still has the longest average fixed term tenancies, at 14 months, which is two months longer than the next nearest region, the South East.
The East and West Midlands and the South West have the shortest average tenancy durations - each just nine months.
Average tenant age is in the 30s in every region studied, ranging from just 31 in the North West to 36 in the East Midlands.
Meanwhile the North West and Wales were the most affordable regions for renters in April. Affordability is defined as a tenant’s yearly income divided by their yearly rent share. London and the South of England are still the most unaffordable regions.
Monthly rents continued to increase in most of the eight regions Goodlord monitors across England and Wales in April, with decreases only in the North East and South West. Average rent in London remains relatively stable.
The full list of average regional rents is:
- North East £618 pcm;
- West Midland £699;
- Wales £770;
- North West £774;
- East Midlands £832;
- South West £867;
- South east £1,009;
- London £1,652.