Advertised Rents Break New Record as London Supply Squeeze Deepens

Average advertised rents outside London have passed £1,400 a month for the first time, according to Rightmove figures reported on 15 October 2026. The new record comes as London faces a sharper squeeze in the number of homes available to rent.

The average asking rent outside the capital reached £1,418 in the third quarter, up 1.5 per cent over the quarter and 2.4 per cent over the year. London reached £2,825 a month, with annual growth of 3.2 per cent.

For landlords, the important development is the difference in market conditions behind those records. Higher headline rents do not mean that demand is strengthening everywhere, or that every property can command a similar increase.

London faces a tighter market

Across the national market, Rightmove reports that available rental listings and tenant demand were both around 2 per cent lower than a year earlier. In London, available listings were down 9 per cent, newly listed rental homes fell 7 per cent and demand rose 6 per cent.

That combination points to greater pressure on tenants looking for a home in the capital. Outside London, the similar annual movements in supply and demand suggest a more balanced picture, although neither national average describes every local market.

The distinction matters when interpreting a record rent. Prices can reach a new high even when growth has moderated, because they are rising from an already elevated level. Slower inflation offers limited immediate relief to someone whose budget cannot stretch to the current asking price.

Asking rents are not the same as rental income

These figures concern advertised rents for homes coming onto the market. They are not a measure of what every existing tenant pays, nor confirmation that every advertised property will let at its initial price. Rightmove’s coverage here is Great Britain, rather than the whole United Kingdom.

For an individual landlord, the relevant comparison remains the competition for a similar property in the same area. A national record cannot establish the achievable rent for a particular flat or house, and it says nothing about the effect of a vacancy on annual income.

For tenants, the distinction is equally important. The headline does not mean an existing rent automatically changes. It describes conditions facing households searching for another home, who may encounter a different price level from the one attached to their present tenancy.

Fewer listings do not prove how many landlords have left

Rightmove also reports that around 13 per cent of homes advertised for sale had previously been available to rent. That share has been broadly stable this year and compares with 12 per cent a year earlier.

This is an indicator of overlap between the sales and rental markets, not a count of completed landlord disposals. A property advertised for sale may not sell, and a completed sale to another landlord can leave it available to tenants.

Similarly, a fall in available rental listings is not equivalent to the same percentage reduction in the total stock of rented homes. Listings show what is available to someone searching at a particular time, rather than all occupied rental properties.

What the new figures mean

The clearest finding is a divergence in immediate letting conditions. London combines fewer advertised homes with stronger demand, while the wider market shows both measures easing. That can mean very different experiences for landlords and tenants depending on location.

This is a market update, not a new legal requirement or a forecast that rents must continue rising. For landlords assessing performance, local letting conditions and the income actually collected remain more useful than a national asking-rent record. For tenants, the availability of suitable homes within budget remains the more pressing test.

NetRent does not provide legal advice. This article represents our understanding of rental property law and is provided for general information only. Landlords should obtain independent legal or professional advice where appropriate.

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