Average asking rents outside London stalled in early 2026, marking the first time since 2017 that they have not increased between the end of one year and the start of the next.
According to Rightmove, the average advertised rent for homes outside the capital showed a 0.0 per cent change between the fourth quarter of 2025 and the first quarter of 2026.
The unprecedented lack of price growth meant that average asking rents held steady at £1,370 per month.
Rightmove said it is the first time since 2017 that rents have not increased at the start of the year, compared with the fourth quarter of the previous year.
In contrast, London saw a quarterly increase of 0.7 per cent, pushing the average advertised rent to £2,736 per month in the first three months of 2026.
The property portal said more than a quarter (26 per cent) of rental listings have seen a price reduction, marking the highest proportion it has seen at this time of year since its records for this started in 2012.
Rightmove said the average rental home now receives eight inquiries, down from 11 a year ago and 29 at a peak in 2022.
The number is still higher than the average of five inquiries per rental home before the coronavirus pandemic.
Lower tenant demand and a greater choice of homes are reducing competition for rental homes and putting upward pressure on rents, Rightmove said.
It also said that affordability pressures remain for tenants, with more people likely reaching a ceiling for what they can pay.
Rightmove property expert Colleen Babcock said: “Rents holding steady this quarter reflects how affordability remains stretched, but also how supply and demand is more balanced.
“With more homes available to rent and less competition between tenants, landlords need to position rents correctly for the current market to secure a tenant.
“As market conditions rebalance, homes are taking longer to let. The market is more price sensitive, with landlords needing to be realistic from the outset to secure a tenant and reduce the risk of void periods.”
Adam Jennings, head of residential at Chestertons, said: “Across (the first quarter of 2026), we’ve seen a clear pick-up in lettings activity, particularly towards the end of March, with a noticeable increase in viewings and agreed lets compared to earlier in the quarter.
“Well-presented, correctly priced properties are continuing to let quickly, especially in areas where supply remains constrained.”
Rental price hotspots
Despite the slowdown in asking rents, Rightmove also revealed some rental price hotspots, which have seen significant increases in asking rents over the past year.
Here are the hotspots, followed by the average asking rent in March and the annual increase in the average asking rent:
- Iver, Buckinghamshire, South East, £2,893, 21.8%
- Godalming, Surrey, South East, £2,341, 19.8%
- Truro, Cornwall, South West, £1,494, 19.4%
- Harrogate, North Yorkshire, Yorkshire and the Humber, £1,621, 18.9%
- Urmston, Greater Manchester, North West, £1,600, 17.6%
- Runcorn, Cheshire, North West, £1,087, 15.1%
- Ascot, Berkshire, South East, £4,014, 14.9%
- Warrington, Cheshire, North West, £1,321, 14.9%
- Batley, West Yorkshire, Yorkshire and the Humber, £972, 14.6%
- Paisley, Renfrewshire, Scotland, £931, 14.5%
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