Overview
- Rightmove reports Q3 records for advertised rents: £1,385 per month outside London and £2,736 in the capital, marking a third straight quarterly high.
- Average asking rents are up 3.1% year on year outside London, with London up about 1.6%, even as the annual pace of rental inflation has eased.
- Available rental stock is 9% higher than a year ago but remains 23% below 2019 levels, and new listings rose just 1% between July and September.
- Estate agents say many landlords are holding back due to higher mortgage costs, last autumn’s stamp duty rise, uncertainty over potential budget tax changes and the Renters’ Rights Bill awaiting royal assent.
- Local hotspots show sharp annual increases, led by Fulwood in Lancashire (+32%), with Keighley and Frome up 27%, and notable gains in Newquay (+23%) and Gainsborough (+22%).