Headlines from the July report:

Rents rise to new record:

• Average advertised rents outside London rose to a new record of £1,365 per calendar month in Q1 2025 (+3.9% versus the same time in 2024).
• London rents hit a 15th consecutive record at £2,712 per calendar month (+1.9% versus the same time in 2024).

Longer term view:

• Five years on from the pandemic, new tenants are paying over £400 more per month on average in rent.
• This 44% increase in rents compares to a 36% increase in average earnings over five years.

Balance of supply and demand continues to improve:

• The number of available properties to rent is now 15% higher than at this time last year.
• The number of prospective tenants looking to move is 10% lower than the same period last year.
• The average number of enquiries per typical rental property is now 11, with tenants competing with fewer other tenants for each property available as supply increases.

More reductions and homes taking longer to let:

• It’s taking an average of 25 days for a rental home to be marked let agreed on Rightmove, up from 21 days last year and 18 days during the pandemic frenzy at this time in 2022.
• Nearly a quarter (24%) of rental homes see a reduction in price during advertising, the highest this figure has been since 2017.

Snapshot of Buy-to-Let lending:

• Latest data from UK Finance shows that there has been a 17% increase in total number of loans to property investors in 2025 (vs the same period in 2024).
• This includes a 28% uplift for new rental home purchases, which should help bring more properties onto the market.

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

Get the full picture here >