London remains by far the most expensive place in the country to rent, with average rent in the capital 114% higher than in the rest of England and Wales, fresh figures show.
The average monthly rent in London currently stands at £1,619, which is more than double the average of England and Wales, according to the latest Goodlord Rental Index.
The data, based on tenancies processed through the Goodlord platform in February 2019, also revealed that void periods are shortest in London, where the average time between tenancies was just 13 days.
In contrast, void periods were longest in the West Midlands, with an average of 33 days.
Overall, void periods were down in February for five out of the eight regions across England and Wales.
In terms of length of tenancy, London had the longest average fixed term tenancies, at 14 months, which is three months longer than the nearest region, which is the South East.
Tenants in London have the highest average income, at £36,000, while tenants in the North East have the lowest average income, at £17,000.
The West Midlands is the most affordable region for renters, based on a tenant’s annual income divided by their yearly rent share.
Across all eight regions, tenants spent approximately 29% of their income on rent.
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