House prices across England fell by 1.5 per cent in August to an average of £1,347 per property after topping the £1,300 mark for the first time in July.

William Reeve, Goodlord's chief executive, said July broke a number of records, so it's not entirely surprising that average rents fell slightly in August and void periods lengthened slightly.

However, looking at the bigger picture, it is clear that the market remains very hot. Year-on-year averages for rental costs have risen sharply and have now breached the £1,300 per month mark for the second month in a row.

"September usually brings the annual price peak, so it's likely that we'll see another month of high rents and short vacancy rates before the seasonal shift in pace begins."

Average house prices rose the most in Greater London and the South East.

Rents in the capital rose by 8 per cent month-on-month, with the South East seeing the highest increase at 14 per cent.

However, the picture was different in the North West, where average house prices fell by -20 per cent.

Rents also fell in the North East (-6 per cent) and South West (-10 per cent), although both regions saw significant increases in rental costs in July.

Vacancy rates also cooled slightly after July's sharp swings, with the average void period rising from 9 to 13 days in August.

However, this still makes August the second lowest month since July 2022 for vacancy rates.

Rental costs rose in both Greater London and the South East, but the average void period was unchanged.