Rental Prices Surge Across England – What This Means for Landlords
As your trusted property specialists here at Mannleys Sales & Lettings, we’re keeping a close eye on the latest rental trends – and May brought some notable developments that could impact your investment decisions in the months ahead.
📊 Rents on the Rise
Average rents across England increased again in May, climbing to £1,226, up from £1,216 in April – that’s the highest average seen since October 2024. Almost all regions saw a monthly uplift, with the North East leading the way with a 2.2% rise, followed closely by the East Midlands at 1.8%.
🔁 Annual Growth Slowing, But Still Strong
Year-on-year rental growth remains significant at 3.7%, despite showing signs of easing compared to April’s 4.2%. While this may suggest a gradual balancing of supply and demand in some areas, the general outlook still points to continued upward pressure on rents, especially as we enter the traditionally busy summer months.
🏡 Void Periods Holding Steady
Nationally, void periods held firm at 21 days for the third consecutive month. However, regional variations are emerging. The West Midlands, for example, saw a notable increase in voids (up 53%), while areas like the South West and East Midlands experienced shorter void periods, indicating stronger tenant demand.
💷 Tenant Affordability Watch
Average tenant salaries saw a slight monthly dip of 2.5% in May, down to £37,676. Although still up year-on-year, this is a trend we are monitoring closely, as affordability could influence future demand and rent levels.
📌 Looking Ahead
According to market forecasts, we expect rental values to continue rising over the summer, potentially hitting new highs. That said, landlords should remain alert to upcoming legislative changes, such as the Renters’ Reform Bill, which may further influence market dynamics.
Need Expert Lettings Advice?
If you're considering a rent review, property acquisition, or simply want to understand how these changes affect your portfolio, we’re here to help.
Get in touch with the Mannleys team today for a no-obligation consultation.
Warm regards,
The Mannleys Sales & Lettings Team
📍 Proudly serving landlords across Telford & Shropshire