Goodlord: Voids remain at 18 days

Jake Carter

January 4, 2022

rental voids

The average void period for a rental property in England remained at 18 days during December, the same as the average figure recorded for November, according to Goodlord.

High demand for available properties in the South West saw a 21% drop in voids last month, with averages moving from 23 days to 18.

The West Midlands also noted a fall in voids, dropping from 21 days to 16, a decline of 23%.

In the East Midlands, voids jumped from 16 days in November to 22 days in December, an increase of 37%.

Greater London also saw an increase, with voids rising by 23%, from 13 days to 16.

The South East, North West, and North East saw voids saw minimal shifts of between zero and one day in their void averages.

The average cost of a property in England rose slightly compared to November prices, from £980 to £985.

The highest shift was seen in Greater London, which recorded a slight rise in prices of 2.2%, while the biggest drop was seen in the South East, where prices reduced by 1.5% during December.

The highest rental price averages were still found in Greater London (£1,671) and the lowest in the North East (£716).

Tenant salaries were also steady month-on-month, moving from £26,819 in November to £26,794 in December, a difference of £25.

The average age of a tenant was 34 years, unchanged since August 2021.

Tom Mundy, chief operating officer at Goodlord, said: “We normally predict a cooling of activity in December, as less people are looking to move during the holidays, so these numbers are very interesting.

“Demand and costs remained virtually unmoved compared to November. It’s a strong indicator of just how hot the lettings market is right now.

“Competition for properties is high and tenants are securing them as soon as they can.

“All signs point to a very busy year for agents and all agents should be preparing accordingly if they want to capitalise on the ongoing demand.”

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