The latest rental data from HomeLet and Zoopla indicate that affordability pressures are beginning to affect renters, with properties taking longer to let.
HomeLet
Fresh figures from the HomeLet Rental Index show that average UK rents edged down slightly to £1,301 in February 2026, a 0.1% fall month‑on‑month from £1,302 in January. Rents remain 2.0% higher than in February 2025, when the average was £1,275.
Excluding London’s data, average rents in the rest of the UK have gone up by £2 (0.02%) in the past month to £1,120 – 1.8% higher than in February 2025.
In the capital, rents have dropped for the fourth consecutive month, down to £2,067. This is 0.5% lower than in January, and just 2.% higher than 12 months ago.
On a regional level, rent changes are slightly more sporadic, with six regions seeing a decrease since January, and six seeing an increase.
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 and how sustainable higher rents really are.
“As we move closer to the Renters’ Rights Act, this shift in behaviour underlines the importance of prioritising suitability and stability over simply pushing for the highest possible rent.
“Thorough referencing, robust fraud prevention and intelligenttenancy management systems are becoming even more critical in helping agents place the right tenants, protect landlords’income, and navigate a market where both affordability and compliance are under greater scrutiny.”
Key Data from the February 2026 HomeLet Rental Index:
Average UK rent: £1,301 (‑0.1% MoM, +2.0% YoY)
UK excluding Greater London: £1,120 (+0.2% MoM, +1.8% YoY)
Greater London: £2,067 (‑0.5% MoM, +2.0% YoY)
Largest monthly changes:
South East: +1.2%
Wales: ‑1.1%
North East: ‑0.8%
Strongest annual increases:
Northern Ireland: +5.1% YoY
North East: +4.6% YoY
Scotland: +4.6% YoY
February 2026 table:
Zoopla
The latest research from Zoopla reveals that the rapid growth in rents over the last five years has resulted in more than half (52%) of local authorities across Great Britain now have average rents of over £1,000pcm. This is up from less than a quarter of local authorities (23%) in 2020.
However despite this, there is some welcome relief for renters with rents for new tenancies rising at their lowest level for four years, and up just 1.9% in the year to November 2025. There are 14% more homes for rent compared to a year ago, largely driven by a decline in international migration for work and study, and improved conditions for first-time buyers who typically leave the rental market when they purchase their first home.
Table 1: Number of areas where average rents >£1000 per month and % of region/country:
Region/country | Number 2020 | Number 2025 | % areas 2020 | % areas 2025 |
London | 33 | 33 | 100% | 100% |
South East | 32 | 63 | 50% | 98% |
Eastern | 14 | 36 | 31% | 80% |
South West | 2 | 18 | 8% | 69% |
West Midlands | 0 | 8 | 0% | 27% |
Scotland | 0 | 6 | 0% | 21% |
East Midlands | 0 | 6 | 0% | 17% |
Yorkshire and The Humber | 0 | 2 | 0% | 13% |
Wales | 0 | 3 | 0% | 14% |
North West | 0 | 4 | 0% | 11% |
North East | 0 | 1 | 0% | 8% |
Total | 81 | 180 | 23% | 52% |
Source: Zoopla, data as at November each year
Although pressure is easing in the rental market, affordability remains stretched. Many households are still paying historically high rents, especially in southern England and major cities, where £1,000+ pcm is now the norm rather than the exception. Local authorities that have recently tipped over the £1,000pcm include the City of Nottingham (£1,015pcm), Leeds (£1,013pcm), Thanet (£1,017pcm), East Devon (£1,032pcm) and Stirling in Scotland (£1,040pcm).
However, due to the slowdown in rental growth for new tenancies, renters now have more choice and slightly more bargaining power, meaning it may be easier to negotiate or move.
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. Growing the size of the rental market – private and affordable homes – is the best route to further reducing the pressure on renters.”
Read the orginal article: https://propertyindustryeye.com/properties-taking-longer-to-let-as-affordability-remains-stretched/?utm_source=rss&utm_medium=rss&utm_campaign=properties-taking-longer-to-let-as-affordability-remains-stretched
