Rental competition in Britain's most sought-after areas has reached 30 enquiries per property, according to new data from Rightmove. This highlights persistent pressure in specific regional markets, even as overall supply has improved.
Birkenhead and Wallasey, both on the Wirral, recorded the highest tenant competition, with 30 enquiries per property on average. Typical monthly rents in these areas are £874 and £975 respectively. Carlisle in Cumbria followed with 29 enquiries per property and average rents of £913 per month.
Nationally, rental properties attracted an average of 11 enquiries each during July and August, a decrease from 12 during the same period last year. This is also a decline from the peak of 28 enquiries recorded in summer 2022, though it remains above the pre-pandemic average of eight. Average asking rents nationally currently stand at £1,580 per month.
Colleen Babcock, Rightmove’s Head of Partner Marketing, noted that July and August are typically the busiest months for the rental market and that competition remains strong in some parts of Britain. The North West is particularly prominent in these findings, accounting for six of the 10 most competitive locations.
Kim Ledbury, ARLA Propertymark President, attributed the shift towards more affordable regions to rising housing costs and increased flexibility in working arrangements. She stated that many tenants are now looking at areas of greater affordability, especially as technology makes remote or hybrid work easier.