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Average rents in England and Wales down 1.7% in May

June 06, 2019 / Property Wire

Average rents in England and Wales fell by 1.7% month on month in May to £901 but they increased in four regions, according to the latest index. The highest monthly rent in May was in London at £1,643 in May, followed by the South East at £1,044 while the lowest average rent in May was the North East at £634, according to the Goodlord rental index. The North East and West Midlands were the most affordable regions for renters in May and the biggest drop since the start of 2019 was in the North West, down from a peak of £815 per month in January to a current low of £711 in May, a decline of 12.8%. The West Midlands has seen rents increase by 7.8% in the first five months of the year to a new high of £720, followed by the South East up by 6.1%. The average rent in the East Midlands is now £805 per month, in the North East £634, in the North West £711, in the South West £896, in the West Midlands £756 and in Wales &pou...