Rightmove reports record asking rents across Britain and London

The property portal says asking rents reached new highs in Q3 2026 while available homes fell and renter demand changed.

By Felo News Desk · Published Thu, 15 Oct 2026 01:50:23 GMT

Rightmove said average private advertised rents across Britain, excluding London, topped £1,400 per month for the first time in the third quarter of 2026, while London rents hit a new record of £2,825 per month.

What happened

The portal’s latest data show the typical asking rent for a home outside London rose to £1,418 per calendar month in Q3 2026. Annual growth in asking rents for the quarter was 2.4%, slowing from the roughly 10% annual increases seen between 2021 and 2023. The number of rental homes available nationwide fell 2% compared with a year earlier, and renter demand slipped by about the same margin.

In London, the average asking rent reached £2,825 per month, with annual growth of 3.2%, outpacing the 2.4% rise outside the capital. The supply of rental homes in London dropped 9% year‑on‑year, while demand rose 6%.

What the reports add

Both the Independent and the Evening Standard reproduced the same figures from Rightmove, confirming the nationwide average of £1,400 and the London record of £2,825. The Independent highlighted that rental price growth has stabilised after a recent peak, while the Standard added that higher mortgage rates are making property investment less attractive for prospective landlords.

What was said

Colleen Babcock, a property expert at Rightmove, told the Standard: “Average rents have reached another new record.”

How it came about

Rightmove’s data reflect a tightening rental market that has been developing over the past few years. Between 2021 and 2023, annual rental growth hovered around 10%, but the latest quarter shows a slowdown to 2.4% outside London. The supply squeeze in London, with a 9% fall in available homes, mirrors similar pressures reported in other markets, such as the record rents documented in Australian cities earlier this month (Domain report shows record rents in Brisbane, Sydney and Melbourne).

Key facts

Average private advertised rent across Britain (excluding London) topped £1,400 per month in Q3 2026. (independent.co.uk)
London’s average asking rent reached £2,825 per month, a new record. (independent.co.uk)
Annual growth in asking rents was 2.4% in the third quarter, down from around 10% between 2021‑2023. (independent.co.uk)
Number of rental homes nationwide fell 2% year‑on‑year; London’s supply fell 9%. (independent.co.uk)
Renter demand fell about 2% nationwide but rose 6% in London. (independent.co.uk)