Rents fall 12% across England as voids lengthen – Goodlord

The cost of renting a home across England fell sharply in October, marking the biggest monthly drop of the year, Goodlord says.

According to its latest Rental Index, average rents tumbled by 12% compared to September.

That ends a stretch of record-breaking highs seen during the summer and early autumn.

The decline brought the national average down from £1,447 to £1,276, saving tenants moving last month an estimated £2,052 a year.

Rent drop ‘paradox’

The firm’s chief executive, William Reeve, said: “This month’s figures present something of a paradox.

“On the one hand, we have a big drop in rents and associate lengthening of voids; exactly what we’d expect to see at this time of the year.

“But we’ve also recorded something of a reversal in the year-on-year rental inflation figures.”

He added: “Throughout 2025 to date, these figures have been fairly steadily reducing each month.

“However, the slight increase from 2% in September to 3% in October could indicate that we’re going into the quietest season for the market with a little more heat than usual.”

Rent declines by up to 24%

The steepest rent decline was seen in the South West, where rents plunged by 24%.

Double-digit reductions also hit the South East, Greater London and the East Midlands.

In contrast, the North West and West Midlands experienced gentler dips of around 6%.

However, year-on-year rents remain up 3.1%, from £1,238 last October to £1,279 now, which suggest continued pressure on the market.

The annual rise is higher than the 2% rise seen in September, though it’s behind January’s 4.6% increase.

The strongest annual rental growth was seen in Greater London, the South East and the North West, where prices are up more than 4% compared to last year.

Meanwhile, tenants in the South West and West Midlands have seen a softer impact, with increases below 2%.

In the East Midlands, rents are fractionally lower than in 2024, with average monthly costs down by £4.

Voids are increasing

Goodlord also says that voids have lengthened across nearly all regions.

The average void rose from 16 days in September to 21 in October, a jump of 31%.

Only the West Midlands bucked the trend, with a marginal improvement from 24 to 23 days.

Elsewhere, the slowdown was more pronounced with voids in Greater London and the South East surging by more than half.

The North East saw the sharpest rise of all, almost doubling from 12 to 23 days.