Headlines from the April report:

Rents rise to new record:

• Average advertised rents outside London rose to a new record of £1,349 per calendar month in Q1 2025 (+4.5% versus the same time in 2024).
• This is the smallest increase in rents at this time of year since 2020.
• London rents hit a 14th consecutive record at £2,698 per calendar month (+2.5% versus the same time in 2024).

Supply continues to improve:

• The number of new properties coming into the market in March was 11% ahead of the same period last year, and the overall number of rental homes now available is 18% ahead of last year.
• The number of prospective tenants looking to move is 7% lower than March last year.
• An increase in first-time buyer activity at the start of this year is likely taking some demand away from the rental market.

Number of enquiries per property down annually:

• The average number of enquiries per rental property outside London this quarter is 12, cooling from 16 at this time last year.
• This is still over double the five in Q1 2019.
• However, there are regional variations in supply and demand as a typical rental home in London sees eight enquiries, compared with 18 in the North West.

More properties see reduction in advertised rental price:

• A quarter of rental properties are seeing a reduction in the advertised price.
• This is the most at this time of year since 2018, a sign of a less frenetic market.

For more details, including regional trends in price, yield, supply and demand, read the full report:

Get the full picture here >