UK rents reached a new record high in September 2026, but eight of the country's 12 regions recorded monthly declines. Here's what the latest figures mean for landlords.
The UK rental market is showing mixed signs. While average rents continue to rise nationally, new data from HomeLet reveals that rental prices fell across most UK regions in September.
For landlords, this highlights the importance of understanding local market conditions rather than relying solely on national rental trends.
What Do the Latest Rental Figures Show?
HomeLet's September 2026 Rental Index reported the following:
- £1,387: Average UK rent per month, up 3.3% year-on-year.
- Eight regions: Recorded monthly rent decreases.
- £2,272: Average monthly rent in London, following a 1.5% increase.
- £1,176: Average rent outside London, down 0.3% month-on-month.
Northern Ireland recorded the strongest monthly increase, with rents rising 2.2% to £1,009. Meanwhile, Wales was the only region where rents were lower than a year earlier, declining 0.4%.
Why Are Rents Moving in Different Directions?
Rental prices vary according to local demand, available properties and what tenants can afford.
In some areas, affordability pressures may be limiting how much landlords can charge. In others, competition for available homes may continue to support rental growth.
A monthly decline does not necessarily mean a market is becoming more affordable overall. Rents may still be higher than they were a year ago, and local conditions can differ considerably.
What Does This Mean for Landlords?
The latest figures highlight three important considerations:
Review local rental prices. Compare similar properties in your area before setting or reviewing rent.
Consider affordability. A realistic rental price may help attract suitable tenants and reduce the risk of extended void periods.
Monitor your property's performance. Keep track of rental income, expenses and occupancy to understand how changing market conditions affect your returns.
Keep Your Property Information Organised with Propell
Understanding rental trends is one part of managing a property portfolio. Landlords also need to keep track of rent, documents, compliance dates and property costs.
Propell helps bring property information together in one place, with rent tracking, document management and reminders for relevant compliance dates.
Explore Propell: https://propell.co.uk/
Frequently Asked Questions
Are UK rents falling in 2026?
Not everywhere. HomeLet reported monthly rent declines in eight regions in September 2026, but the UK average still increased by 3.3% compared with September 2025.
Which region has the highest average rent?
London had the highest average rent in HomeLet's September 2026 index, at £2,272 per month.
How should landlords respond to falling rents?
Landlords should monitor comparable local properties, consider tenant affordability and review their rental income and expenses before making pricing decisions.
