Lettings management platform, Howsy, says that since lockdown (March), average rent levels have dropped in seven out of ten areas of England and Wales.

Howsy looked at the average rent paid between the start of the year and lockdown and found that on average, the cost of renting had climbed 2% with just the South West (-0.5%) seeing a drop.

The East Midlands and the North East had seen the most significant increases, up 4.4% and 4.1% respectively.

The North West (2.2%), London (2%0 and the South East (2%) had also seen the average rent increase by 2%.

However, with the UK entering lockdown on the 16th March and a ban on evicting tenants following soon after on the 26th, many landlords have seen their rental income dwindle or disappear altogether, a worrying trend that is reflected within the top line figures.

Since March, the average rent paid across England has declined by as much as -3.4%, while Wales has seen a smaller decline (-0.9%).

London has been by far one of the worst-hit regions, with the average rent paid plummeting by -7.9%, while the South East isn’t far behind with a reduction of -7.7%.

The East of England (-3.1%) and Yorkshire and the Humber (-2.5%) have also seen some of the most notable reductions.

The North West (1.3%) and North East (1%) have seen an increase in rents paid while the East Midlands (0.1%) has remained flat, however, all three have seen a notable drop in the rate of growth when compared to the first half of the year.