Average rental yields across England and Wales climbed to 7.9% in the third quarter of 2026, an increase from 7.5% recorded a year prior. This data comes from Fleet Mortgages' Q3 Rental Barometer.
During the same period, the average portfolio held by Fleet's landlord borrowers expanded to 18 properties, up from 16 in the previous quarter and 12 a year ago. This suggests that larger portfolio landlords are accounting for a growing share of specialist buy-to-let activity.
Regionally, Yorkshire & Humberside registered the highest average yield at 9.3%, an increase from 8.2% in Q3 last year. The North East followed with a 9.2% average yield. Greater London continued to have the lowest yield at 6.4%, though this was an increase from 5.9% a year earlier, and maintained the highest average monthly rent at £2,597.
Despite higher mortgage costs, landlords with at least 15 buy-to-let properties represented 30% of applications in Q3, compared to 23% a year earlier. Purchase activity, however, saw a slight softening, accounting for 34% of Fleet's business, down from 36% in Q2.