A new index for the lettings sector in England and Wales reveals that London has the shortest void periods and the longest fixed term tenancies.

The analysis of tenancies by PropTech company Goodlord according to average rent, void periods, tenancy length, tenant age and income, shows wide regional variations.

Goodlord says that in February London had the country’s highest rent - at an average of £1,619 per month, which was 114 per cent higher than the typical rent in the rest of England and Wales.

London also had the shortest void periods - an average of just 13 days - while it also revealed the longest fixed term tenancies, at 14 months; this was a full three months longer than in the south east, the region with the second longest tenancies.

Across the country as a whole, tenants typically spent some 29 per cent of their income on rent.

Tenants in London have the highest average income, at £36,000, while tenants in the North East have the lowest average income, at £17,000.

The index splits England and Wales into eight regions and its measurements are:

North West:

  • Average rent - £752
  • Average void - 27 days
  • Average tenancy length - 9 months
  • Average tenant age - 32
  • Average annual tenant income - £20,000.

North East:

  • Average rent - £635
  • Average void - 24 days
  • Average tenancy length - 9 months
  • Average tenant age - 31
  • Average annual tenant income - £17,000.

Wales:

  • Average rent - £693
  • Average void - 15 days
  • Average tenancy length - 9 months
  • Average tenant age - 32
  • Average annual tenant income - £23,000.

West Midlands:

  • Average rent - £689
  • Average void - 33 days
  • Average tenancy length - 9 months
  • Average tenant age - 33
  • Average annual tenant income - £18,000.

East Midlands:

  • Average rent - £864
  • Average void - 32 days
  • Average tenancy length - 9 months
  • Average tenant age - 33
  • Average annual tenant income - £23,000.

London:

  • Average rent - £1,619
  • Average void - 13 days
  • Average tenancy length - 14 months
  • Average tenant age - 32
  • Average annual tenant income - £36,000.

South East:

  • Average rent - £967
  • Average void - 23 days
  • Average tenancy length - 11 months
  • Average tenant age - 34
  • Average annual tenant income - £25,000.

South West:

  • Average rent - £878
  • Average void - 23 days
  • Average tenancy length - 9 months
  • Average tenant age - 34
  • Average annual tenant income - £19,000.