Rents hit near-record highs in August – Goodlord

England’s PRS stayed robust in August, with average monthly rents hitting £1,480 per property, just shy of the record set in July, according to the Goodlord Rental Index.

This figure marks the second-highest rent since the index began tracking data in 2019.

Despite a slight 1% dip from July’s peak of £1,496, rents are up 2.9% compared to August 2024, adding £504 annually to tenants’ bills.

Not hit rent price high

The firm’s chief executive, William Reeve, said: “It’s been another busy month for the market.

“Whilst it was unlikely that we would see July’s average rent record broken, the regional picture across Greater London, the South East and the East Midlands shows that we haven’t hit the rental price ceiling just yet.

“We are expecting another month of high rents in September, before things start cooling off as we move into the autumn.”

He added: “The next six months will be pivotal for the market; the pace of rent inflation is going down and there are indications that supply, and demand pressures are slightly easing.

“Combine this with the disruption that the Renters’ Rights Bill will bring, and potential tax changes for landlords in the Budget in the autumn, and we’re in for a very interesting period for the sector.”

North West rents fall

Goodlord’s data shows that the South East led with a striking 11% monthly increase, pushing average rents past £1,600 for the first time.

Greater London followed, with a 5.5% rise, reaching £2,322, the second-highest average ever for the capital.

The East Midlands also saw a notable 4% uptick.

However, not all regions followed this trend with the North West experiencing a sharp 20% drop from July’s high.

The North East, South West and West Midlands also reported lower averages.

Rent pace slowing

While rents climbed 2.9% year-on-year, the pace of growth is slowing and in March there was a 4.6% annual increase, suggesting a potential stabilisation of rents in 2026.

The North West and Greater London recorded the largest annual gains at 6.6% and 5.3%, respectively.

In contrast, the North East saw a slight dip, with averages falling from £1,107 in August 2024 to £1,106 in 2025.

Goodlord also says that properties sat empty for longer in August, with voids increasing from 12 days in July to 15 days, matching last year’s figures.

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