The cost of new rentals has increased by 7.1% annually in the West Midlands, bringing the average cost of renting to £1,000 per month, analysis from the Goodlord Rental Index has revealed.
There were also strong gains in the South East (4.4%), Greater London (4.1%), and the South West (4%).
The most expensive region for renters is Greater London (£2,021), followed by the South East (£1,350) and the South West (£1,220).
William Reeve, chief executive of Goodlord, said: “Within the latest figures, we still see signs of rising demand in a market that refuses to cool off.
“Voids have shortened once again after January’s record-breaking lengths.
“And whilst overall rents for February are only slightly higher than January’s figures, we don’t always see month-on-month increases at this time of year.
“These are strong indications that the PRS will continue to heat up alongside the weather.”
Voids shorten after sluggish January
After hitting record lengths in January, headed downwards again during February.
Voids shortened from an average of 24 days in January to 20 days in February, down 17%. This is the lowest void length recorded since October 2024.
However, the average of 20 days for February 2025 remains higher than year-on-year figures – in February 2024, voids sat at 18 days on average.
