Voids hold steady in September

7 October 2020 | General

The average void period for the UK held steady at 20 days during September.

Greater London, the North East, West Midlands and South West all saw small reductions in void periods.

The smallest average void time can now be found in the North East – at just 12 days.

However, small increases in void periods were recorded in the East Midlands (increasing from 16 to 18 days), the North West (19 to 23 days) and the South East (13 to 16 days).

The longest voids can now be found in the West Midlands, which saw an average period of 25 days during September.

Tom Mundy, chief operating officer at Goodlord, said: “Despite new restrictions on people’s movements in various regions across the UK, the rental market is holding steady.

“In fact, the sector’s bounceback has been incredibly strong to date and demonstrates the resilience of the lettings market.

“The steadiness of void periods in particular is an encouraging sign of a market that has found its equilibrium after a year of extremes. As we head into winter, we’ll be keeping a keen eye on trends, but agents are heading into the coming months in robust shape.”

Despite strains on the job market, the average income for tenants barely shifted month on month.

August’s average income was £24,521 per tenant, with September’s figure shifting ever so slightly downwards to £24,490.

The average age of UK tenants has also marginally increased, from 32 to 33 years old.

This post has originally been featured in Property Wire.