The total number of available homes to rent in Q1 2026 is 3% higher than a year ago, and at the highest level for this time of year since 2021, according to Rightmove.

In London, average advertised rents rose by 0.7% this quarter to £2,736 per calendar month, though rents are still lower than Q3 2025’s record. Whilst the average advertised rent of homes coming onto the market outside of London remained flat (0.0%), holding at £1,370 per calendar month. This is the first time since 2017 that rents have not increased at the start of the year from Q4 into Q1.   

While rents have levelled off quarter‑on‑quarter, average advertised rents outside of London are still 1.6% higher than this time last year, though this is the lowest this figure has been since 2018.  

Colleen Babcock, Rightmove’s property expert, said: “Rents holding steady this quarter reflects how affordability remains stretched, but also how supply and demand is more balanced. With more homes available to rent and less competition between tenants, landlords are needing to position rents correctly for the current market to secure a tenant.  

“As market conditions rebalance, homes are taking longer to let. The market is more price sensitive, with landlords needing to be realistic from the outset to secure a tenant and reduce the risk of void periods. Around 26% of rental listings are now reduced in price while advertised, the highest proportion recorded since Rightmove began tracking this metric in 2012.  

“Ahead of the Renters’ Rights Act coming into force, the data doesn’t suggest a single or immediate reaction from landlords. Instead, behaviour appears more cautious and considered, with many focusing on long‑term tenancies, pricing and avoiding void periods in a more balanced market.  

“It’s still early days, but the most immediate shift due to the war in Iran has been some significant increases to borrowing costs for landlords, which may filter through to the market at a later stage.”  

However, there’s been no surge in newly listed homes for rent ahead of 1st May. In fact, while the total number of available homes for rent is higher than recent years,

The number of newly listed rental properties coming onto the market in March 2026 is 6% lower than at the same point last year, with the total number of available homes for rent higher than recent years.