Private rental prices across Great Britain have stopped rising for the first time in nearly a decade, as landlords face increasing pressure to reduce asking prices to secure tenants, according to data from Rightmove.
The typical advertised rent outside London remained flat at £1,370 per calendar month during the first quarter of 2026, marking the first time since 2017 that rents have not increased in the opening three months of a year compared with levels at the end of the previous year.
Market shift underway
Approximately 26% of rental listings were reduced in price whilst advertised, representing the highest proportion recorded since Rightmove began tracking this metric in 2012. The data suggests landlords are adjusting to a market where tenant affordability has reached its limit.
Jeremy Leaf, an estate agent in north London and former residential chair of the Royal Institution of Chartered Surveyors, noted that tenants have become increasingly concerned about the rising cost of living, particularly following the Iran conflict that began on 28 February. However, the conflict has also prompted some relocations from the Middle East to the UK, boosting demand in parts of the prime rental market, according to estate agent Chestertons.
Supply and demand rebalancing
The number of available rental properties increased by 3% compared to a year ago, with supply reaching its highest level for this time of year since 2021. This shift follows several years where demand substantially exceeded supply in many areas.
The changing market dynamics come as the rental sector prepares for regulatory changes, with the Renters’ Rights Act set to take effect on 1 May 2026. The legislation will abolish section 21 of the Housing Act, which currently permits landlords to evict tenants without providing justification to the court.
Despite concerns from charities about potential last-minute evictions before the law’s implementation, Rightmove reported no surge in newly listed rental properties ahead of the 1 May deadline, suggesting landlords have not rushed to exit the market.
Regional variations persist
London showed a different pattern, with average advertised rents rising 0.7% during the first quarter to £2,736 per calendar month, though this remains below the peak recorded in summer 2025.
Colleen Babcock, Rightmove’s property expert, indicated that the Iran conflict has led to increases in borrowing costs for landlords, which may affect the market at a later stage. The broader trend of mounting affordability pressures continues to shape tenant behaviour and market dynamics.
The stagnation in rental growth marks a significant shift in a market that has seen consistent increases since 2017, with implications for both landlords adjusting their pricing strategies and tenants who may find increased negotiating power in certain areas.
