
That’s according to the latest Rental Trends Tracker from Rightmove.
The property portal said that the average rent outside of London is now £1,344 a month.
This marks a 5.2% increase from a year ago, although it is the slowest rate of growth seen since 2021.
In London, rents have also reached a new record, with an average of £2,694 a month, a 2.5% rise compared to last year.
Improving balance between supply and demand
The balance between supply and demand continues to improve compared with last year, but letting agents are still very busy with high numbers of tenants looking to move.

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Rightmove said that the average number of tenant enquiries for each rental property available has fallen to 15, down from 23 at this time last year, but still nearly double the eight recorded in 2019.
The number of available rental properties is now 13% higher than last year, though still 27% below 2019.
Selling up
A record proportion of former rental homes are currently on the market for sale, as some landlords look to avoid potential tax changes and looming red tape.
Rightmove’s real-time data shows that 18% of homes for sale were previously available to rent, compared with 8% in 2010.
The property website’s Greener Homes report found that 2.9 million rental properties need upgrades to meet an EPC C rating, with an estimated cost of £23.4 billion, or £8,074 per property.
While half (50%) of landlords are concerned that the government will introduce costly charges for not meeting EPC requirements, one in five (19%) renters think stricter energy efficiency regulations should be the top priority for the new government.
Rightmove’s director of property science Tim Bannister, said: “While we’re seeing some signs of improvement in the market’s chronic levels of demand and supply imbalance helped by a slight increase in the number of available rental properties, affordability remains a key challenge for renters as prices continue to hit new records. Tenant competition has eased slightly from last year, but the market is still far from balanced.
“We are seeing some landlords choosing to exit the market with potential tax changes and stricter EPC regulations as additional factors in landlords’ decision-making.
“With rental supply under strain, incentivising landlords to invest in energy-efficient upgrades or offering tax relief could help maintain rental supply and, ultimately, ease affordability pressures for tenants.”