Rental prices declined across most regions in England, Wales, and Scotland during September, according to new data from Propertymark. Scotland recorded the largest monthly decrease, with rents falling by 3.4% to an average of £1,134.
The North West also saw a decline of 2.5% to £1,109, while London and the South West experienced drops of 2.1% to £2,415 and £1,256 respectively. The East Midlands was the only region where rents increased, rising by 0.1% to £991.
Despite these monthly decreases, the annual picture indicates continued pressure on renters. The typical salary required to secure an average-priced rental property increased in several regions over the year. Scotland again led annual increases, with salary requirements up 3.4% to £34,020.
Kim Lidbury, President of ARLA Propertymark, stated that the September figures suggest "some of the pressure in the rental market is beginning to ease." She added that while it is encouraging to see rents fall in some of the UK’s most expensive markets, affordability remains a significant concern for many renters.