Rents continue to move on up in February and March
Monthly rents increased from February to March in six of the eight regions Goodlord monitors across England and Wales, with decreases only in the West Midlands and East Midlands.
The data from PropTech company shows wide regional variations.
According to the index, London led the way, with £1,651pcm, followed by South East (£984pcm), South West (£902pcm), East Midlands (£820pcm), North West (£761pcm), Wales (£749pcm), West Midlands (£673pcm), and North East (£645pcm).
The data also shows that landlords in London had the shortest void periods, at an average of just 13 days - while the capital also had the longest fixed term tenancies, at 14 months; this was a full three months longer than in the South East, which was region with the second-longest tenancies.
Void periods continue to be longest in the West Midlands, with an average of 33 days.
Tenants’ average monthly incomes have increased in five of the eight regions monitored, with the most significant increase in the South East.
Tenants’ average monthly incomes declined in the North West and Wales, with no change in the West Midlands.
Richard Truman, Head of Operations at Simple Landlords, added: “Buy-to-let has outperformed most other major asset classes over the past 10 years, thanks to the annual gain in house prices and increased rental yields and continues to be a stable and attractive investment.”