Goodlord Rental IndexNovember 2020
Monthly key figures for the private rented sector

Welcome to November's Goodlord Rental Index.

Every month, Goodlord reveals key figures for the private rented sector based on tenancies processed through our platform, including average rents, voidage periods and more.

Our latest Rental Index, which analyses over 20,000 UK tenancies each month, reveals a subdued rental market during November thanks to the country-wide lockdown. Rents were down and voids were up, with the average income of tenants also starting to slide.

However, the market picked up speed again during the last week of November, with renewed activity sparking an above average rate of new applications during a traditionally quiet period for the market.

Toby Burgess-Smith
Data Analyst, Goodlord

1. Average monthly rent

The cost of rent dropped in every region monitored by Goodlord - dipping by 2.6% across the UK as a whole. The biggest shift was recorded in the North West, where average rents fell by 7%; from an average of £750 to £701 per month.

London saw a 4% drop (but £1,590 to £1,527) and the South West also saw a 4% decrease (£917 to £880). All other regions saw decreases of less than 4%.

The average cost of a rental property in the UK is now £879.03 per month.

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Average monthly rent across UK regions throughout 2020.

2. Average void periods

With the market subdued over lockdown, void periods also edged up in most regions. The average void period for England is now 25 days, up from 23 days in October.

The East Midlands saw the biggest rise in voids - jumping from 21 days to a 32 day average. The North West climbed by 6 days (from 25 days to 31). And Greater London and the North East also recorded rises.

The West Midlands held steady month on month. And the South East and South West both recorded decreases in average void periods, with these regional markets recovering well towards the end of November.

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Average void periods in days across UK regions throughout 2020.

3. Average tenant income

Another trend that emerged during November was a decrease in average tenant salaries. The average salary for a tenant in England decreased by 7% between October and November - from £25,137 to £23,498.

The biggest change was recorded in the North East which saw a 10% drop in average tenant salaries; going from £20,894 to £18,961. This was closely followed by Londoners, who recorded an 8.7% drop in earnings from £35,198 to £32,390.

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Average tenant salary across UK regions throughout 2020.

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