Properties across the UK are taking longer to let as affordability pressures impact the rental market, according to new data from HomeLet and Zoopla.
Average UK rents stood at £1,301 in February 2026, down 0.1% month-on-month from £1,302 in January, though still 2.0% higher than February 2025, the HomeLet Rental Index shows. Excluding London, average rents across the UK increased marginally by £2 to £1,120, representing a 1.8% annual rise.
London rents decline for fourth month
The capital saw rents drop for the fourth consecutive month to £2,067, down 0.5% from January and just 2.0% higher than 12 months prior. Regional variations showed six areas experiencing rent decreases since January and six recording increases.
Carrie Alliston, head of partnerships at HomeLet and Let Alliance, said: “We’re currently seeing a rental market that’s slowing in a different way; not through falling rents, but through properties taking longer to let. The average proportion of income spent on rent (30.9%) has only gone up by 0.1% since November last year, which shows that tenants are being more cautious about what they can afford.”
Over half of local authorities exceed £1,000 monthly rent
Separate research from Zoopla reveals that 52% of local authorities across Great Britain now have average rents exceeding £1,000 per month, up from 23% in 2020. However, rent growth for new tenancies has slowed to 1.9% in the year to November 2025, the lowest level in four years.
The rental supply has improved, with 14% more homes available to rent compared to a year ago. This increase is attributed to declining international migration for work and study, alongside improved conditions for first-time buyers exiting the rental market.
Areas recently surpassing the £1,000 monthly threshold include Nottingham (£1,015), Leeds (£1,013), Thanet (£1,017), East Devon (£1,032), and Stirling (£1,040).
Regional data highlights
The strongest annual rent increases were recorded in Northern Ireland (5.1%), the North East (4.6%), and Scotland (4.6%). Monthly changes varied significantly, with the South East seeing the largest increase at 1.2%, while Wales declined by 1.1% and the North East fell by 0.8%.
In London and the South East, 100% and 98% of local authorities respectively now have average rents above £1,000 per month, compared to just 11% in the North West and 8% in the North East.
Richard Donnell, executive director at Zoopla, said: “While renting has become more expensive and is an important cost for household budgets, the market is shifting in renters’ favour. Slower rent growth, increased choice, and more stable outlooks mean cost-of-living pressures from rent are easing rather than intensifying.”
The data indicates that whilst affordability remains stretched, particularly in southern England and major cities, renters now have increased bargaining power and more choice in the market.
