Landlords in England and Wales experienced an increase in average yields across most regions over the past year. According to Fleet Mortgages' latest quarterly barometer, the average yield reached 7.9% in Q3 2026, an increase from 7.5% a year prior.
Yields rose in eight of the 10 monitored regions. Yorkshire and Humberside now leads with a 9.3% yield, up from 8.2%, surpassing the North East. The East Midlands saw the second-largest annual increase, up 0.9 percentage points to 8.4%.
Despite a fall in yields, Wales recorded the highest proportion of purchase applications in Q3 at 46%. The South West also saw a considerable increase in purchase activity, with its share of applications rising from 23% to 34% as yields recovered to 7.1%.
Greater London remained at the bottom of the yield table at 6.4%, though its average monthly rent increased from £2,364 in Q2 to £2,597 in Q3. The average Fleet landlord owned 18 investment properties in Q3, compared to 12 a year earlier.