After several months of little movement, rents have started to edge up again, rising for the first time in five months – though they remain 2.5% below October’s peak.

The latest HomeLet Rental Index shows average UK rents reached £1,311 in March 2026, up 0.8% from £1,301 in February and 1.8% higher than a year ago.

Outside London, rents increased modestly by £5 (0.4%) to £1,125, marking a 1.6% annual rise. In the capital, prices rebounded more strongly, climbing 1.5% month-on-month to £2,097 after four consecutive monthly falls, and sitting 1.7% higher than March 2025.

Regionally, the picture is mixed but improving, with rents rising in eight areas and falling in four.

Kate Wenham, customer development team leader at HomeLet and Let Alliance, said: “After several months where rents either dipped slightly or stood still, March’s data shows the first clear uptick since October.

“We’re still experiencing a market where tenants must be conscious of price. Affordability pressures haven’t eased, but both landlords and renters appear to be adjusting to a new normal, with smaller, more measured rent increases rather than the sharp rises we’ve seen in the past.

“As May 1st edges closer, the focus for agents and landlords should be on sustainable tenancies rather than stretching affordability to breaking point.”

Average UK rent: £1,311 (+0.8% MoM, +1.8% YoY)

UK excluding Greater London: £1,125 (+0.4% MoM, +1.6% YoY)

Greater London: £2,097 (+1.5 % MoM, +1.8% YoY)

Largest monthly changes:

Greater London: +1.5%

Northern Ireland: +1.3%

South West: +1.1%

Strongest annual increases:

Northern Ireland: +4.9% YoY

Scotland: +3.6% YoY

North East: +3.2% YoY

March 2026 table:

Source: HomeLet