UK average monthly rents reached a new high of £1,382 in August, marking a 0.9% increase from July's £1,369. This represents an annual growth of 4.1% compared to August 2025, when the average was £1,328.
Excluding Greater London, average rents stood at £1,179, up 0.8% month-on-month and 3.4% annually. Most regions saw increases in August, with ten of the 12 markets tracked by HomeLet recording monthly growth.
Greater London continues to be the most expensive rental market, with average rents reaching £2,238 in August. This is a 1.4% rise in a month and a 5.1% increase year-on-year. The South West recorded the strongest annual increase at 5.2%, followed by London at 5.1%, and Northern Ireland at 4.9%. Wales was the only region to see both monthly and annual falls, with average rents dropping 1% on both measures to £925.
The latest figures also highlight increasing affordability pressures, with HomeLet data showing tenants are now allocating an average of 32% of their income to rent. In London, this proportion rises to 39.8%.