The average price of a rental property in England rose for the third month in a row to £1,213 in March, it has been revealed.
The new Goodlord data found that rents were 4.6% higher last month, compared to the same time a year earlier.
Tenants were typically paying £1,160 per property in March 2024.
The figures are based on tens of thousands of tenancy applications each month on behalf of more than 3,500 lettings agents across Britain. Confirmed tenancy prices rather than advertised prices are used in the calculations.
It comes amid claims that this year will see rental prices rise to ‘record-breaking’ levels.
William Reeve, of Goodlord, said: “We’ve long believed that rental prices didn’t reach their ceiling last summer and that this year will bring new rental cost highs.
“The steady creep of price rises we’ve tracked in 2025 so far appears to bear this out.”
The South East saw the most significant rental growth over the past year, rising by 6.1%.
The average rental property in this region cost £1,286 per month in March 2024, rising to £1,365 last month.
It was followed by the West Midlands and the North West, with year-on-year rental increases of 5% and 4.9% respectively.
The slowest year-on-year growth was seen in the East Midlands at 2.6%.
March saw the third consecutive month of rental growth, with values rising just 0.33% between February and March, up from £1,209 to £1,213 per property.
Meanwhile, tenancy void periods lengthened slightly in March, with averages sitting at 21 days compared to February’s 20 days.
However, it was a more complex picture at regional level. Greater London, the North West, and the South West all saw voids shorten.
In the East Midlands and the North East there was no change to voids month-on-month.
By contrast, the South East saw a lengthening of voids periods, rising by two days, and there was a significant in the West Midlands, up by five days.
Reeve added: “We’ve long believed that rental prices didn’t reach their ceiling last summer and that this year will bring new rental cost highs.
“And while the data shows that the pace of these rent rises and the pressures of market demand can take on a strong regional flavour - meaning not all renters will be at the sharp end of these shifts - the overall picture is currently pointing to another year of record-breaking rents.”
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