The Hamptons International Lettings Index shows that the average time to let a property rose to a record high last month.

In April it took 29 days on average to let a rental home in Great Britain, five days longer than in April 2019.

To put the figures into context, it took 25 days to let a home in April 2015 and just 18 days in April 2013 when our records began.

Lockdown measures led to a decline in rental demand, with more people staying put, and this is reflected in the figures.

The time it took to let a property last month rose in every region.

The four slowest regions to let a property were in Wales (34 days), Yorkshire & Humber (33 days), the South East (33 days) and the North East (33 days).

These same regions – aside from the North East – also recorded the biggest year-on-year increases in the time it took to let.

The average time it took to let a home in April rose the most in the South East (+10 days), followed by Yorkshire & Humber (+9 days) and Wales (+7 days) compared with the same period last year (table 2).

The South West, which up until last month had seen some of the strongest rental growth, was the quickest region to let a home.

On average it took 25 days to let a home in the South West in April 2020, just three days longer than in April 2019.

The East of England was the second quickest region, taking 26 days on average or four days longer than last year. London followed in third place where the average home let in 27 days, three days longer than the same period last year (table 1).

The North West saw the smallest increase in time to let (+1 day).

Demand for one-bedroom homes means that these usually rent the fastest, however this changed last month when three-bedroom homes let the quickest.

It took 29 days on average to let a three-bedroom home in April 2020, six days longer than the same time last year. Whereas one-bedroom homes took 30 days on average to let last month, seven days longer than in April 2019 (table 2).

Rents on renewed tenancies fell for the second month in a row. In April, the average rent on a renewed tenancy stood at £925 pcm, down -1.1% year-on-year (table 3).

Rental growth on renewed tenancies continued to slow from -0.5% in March 2020 and down from 1.5% in February which marked an 18-month high.

London (-3.2%) and the South East (-2.4%) were the only regions where renewed rents fell.

Meanwhile Scotland recorded the strongest annual rental growth (4.2%), followed by the North (2.7%) and Midlands (1.9%) (table 3).

The Hamptons International Lettings Index uses data from the Countrywide Group, Great Britain’s largest letting agent, to track changes to the cost of renting.

The index is based on the 90,000 homes let and managed by Countrywide in each year, adjusting for their location and type.

It is based on achieved rather than advertised rents.