Average UK rents reached a new record high of £1,387 in September 2026, according to the latest HomeLet Rental Index. This figure represents a 0.4% increase from August and a 3.3% rise compared to September 2025.
The overall increase was largely driven by London, where average rents climbed by 1.5% to £2,272, up from £2,238 in August. London rents are now 3.3% higher than a year ago.
Outside the capital, average rents across the rest of the UK saw a 0.3% monthly decline, settling at £1,176. Despite this monthly fall, rents outside London remain 3.1% higher year-on-year.
Only four regions recorded monthly rental growth in September: Northern Ireland (2.2%), London (1.5%), Yorkshire & Humberside (1%), and the South West (0.8%). On an annual basis, Northern Ireland and the South West both led growth at 5.4%, followed by Scotland at 4.9%. Wales was the only region to experience an annual fall, with average rents down 0.4%.
HomeLet's figures indicate that tenants are now spending an average of 32.1% of their income on rent. This proportion rises to 40% in Northern Ireland and 38% in Greater London.