The rental market has returned surprisingly strong figures for December, despite the impact the Christmas holidays can traditionally have on lettings. According to the latest Rental Index from Goodlord, voids held steady month on month and rental prices also stood firm during December, as the strong demand for lets continues across the country.
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, but there was some more variation in the individual regions.
High demand for available properties in the South West saw a 21% drop in voids last month, with averages moving from 23 days to just 18. The West Midlands also enjoyed a reduction in voids, falling from 21 days to 16 – a drop of 23%.
Demand was more subdued in the East Midlands, however. Voids jumped from 16 days in November to 22 days in December – a sharp increase of 37%. Greater London, which was gripped early by the Omicron crisis, also reported a slowdown. Voids in the capital increased by 23%, from 13 days to 16.
Encouragingly for the sector, rents also held firm throughout December. The average cost of a property in England even rose slightly compared to November prices, rising from £980 to £985.