Agents are filling properties for existing landlords in record time, research claims.

Analysis of 4,000 tenancies processed through lettings software platform Goodlord last month found the average void periods across the UK stand at just 11 days.

This has been coupled with an increase in monthly rents to the highest for this year at £1,031.

It comes after Goodlord appeared to contradict other industry data last month with claims that rents had fallen in July in the aftermath of the tenant fee ban.

The shortest average void periods were recorded in the south west of England, where it took just five days to fill a vacant property in August, eclipsing the region’s previous year-to-date low of nine days.

This was despite a spike in average monthly rents in the south west, with costs in the region jumping 20% between July and August to £1,126.

The north east of England also experienced record low void periods in August, dropping to just seven days on average. During the same period, the average monthly rent climbed by 36% month-on-month to £897.

Average rents increased in all but one of the eight regions monitored by Goodlord, with only Wales registering a drop.

London continued to have the highest average monthly rent in August at £1,684, an increase of 5% on the previous month.

Tom Mundy, chief operating officer at Goodlord, said: “August is always a busy month for the industry and these numbers demonstrate a rising demand for high-quality rental properties across the UK.

“Void periods were at year-to-date lows across almost every region, something which will be welcomed by landlords and agents alike as the industry finds equilibrium following the tenant fee ban.

“We’ve also seen big jumps in average rental costs throughout a range of regions, demonstrating the release of pent-up demand amongst tenants and a slew of higher value properties hitting the market as more home-owners look to the rental market against a backdrop of stagnant property prices.”