New tenancies processed through lettings platform Goodlord may be bucking the trend as the firm’s data suggests rents fell in five out of eight regions in England and Wales last month.
This would appear to go against other data that has been showing rents have been broadly rising across most regions since the tenant fees ban was introduced in June.
Referencing firm HomeLet reported that in July new rents were up 1.7% in the UK, excluding London, and said the only English region where newly agreed rents have gone down is the north east – but by just £1.
However, Goodlord’s analysis found the biggest drop in rents was in the west midlands, down 1.11% on a monthly basis to £711 in July.
Average rents also fell in Wales, London, and the south-east and south-west of England, it claimed.
Rents increased by the most in the north-west of England at 2% between June and July to £750 a month, according to Goodlord.
Tenants in the north east of England and the east midlands also saw an increase.
The highest monthly average rent was in London, at £1,608, which also continues to be the least affordable region for renters in the UK, with an affordability ratio – based on annual income divided by rent – of 3.3.
The analysis also found that the south west of England continues to have the lowest average void periods in the UK, where it took just nine days to fill a property in July.
It took almost three times as long to fill a vacant property in the east midlands in July, where the average void period was 25 days.
Asked why its data was so different to others, a spokesman for Goodlord said: “The data is based on tenancies that have been both signed and executed each month across the UK, which is the most accurate way of tracking rental trends.
“We weight the data to ensure comparative figures month on month are accurate, with the typical sample size being over 4,000 executed tenancies from across the UK.”