In the first months of 2026, average asking rents across Britain, excluding London, have stalled—marking the first time since 2017 that rents have not increased between the end of one year and the beginning of the next. According to Rightmove’s latest research, asking rents remained steady at £1,370 per month from Q4 2025 through Q1 2026.
While rents outside the capital held firm, London bucked the trend with a modest 0.7% quarterly rise, pushing the average asking rent to £2,736 per month. Despite this overall stability, a deep imbalance is emerging: over 26% of rental listings have seen price reductions—the highest rate recorded at this time of year since Rightmove started collecting this data in 2012.
Tenant demand has softened, with the average number of enquiries per rental property dropping to eight—down from 11 a year ago and dramatically lower than the 29 enquiries recorded at the 2022 peak. Nevertheless, demand remains above pre-pandemic levels, when properties attracted an average of just five enquiries.
READ MORE: Midlands Planners Could Lose Authority Over Major Development Decisions
READ MORE: New High Value Council Tax Surcharge Introduced for Homes Worth Over £2 Million in England
The shift points to a market adjusting to greater supply and reduced competition, easing upward pressure on rents. However, affordability remains a pressing challenge. Many tenants are reaching their maximum spending limits, forcing landlords to price properties realistically to avoid prolonged vacancies.
Rightmove’s property specialist Colleen Babcock emphasized, “Rents holding steady this quarter reflects ongoing affordability strain combined with a more balanced supply and demand dynamic. With more rental homes available and less competition among tenants, landlords must align rents with the market to secure tenants and reduce void periods.”
Adam Jennings, head of residential at Chestertons, noted increased activity late in Q1 2026: “We’ve seen a noticeable pick-up in lettings, particularly towards March’s end. Well-presented, accurately priced properties continue to let quickly, especially where supply remains limited.”
Despite the general slowdown, Rightmove flagged several rental hotspots with significant price inflation over the past year, underscoring a complex rental landscape where hardship and opportunity co-exist.