Asking rents across the United Kingdom have reached new record levels amid a continued shortage of available rental properties. According to data from Rightmove, a leading property search platform, the average asking rent for homes outside of London rose to £1,418 per calendar month during the third quarter of 2026. In London, monthly asking rents hit an all-time high of £2,825.

Despite these record figures, Rightmove noted that rental price growth has somewhat stabilized following a period of exceptionally strong demand. The annual increase in asking rents during the third quarter was 2.4 percent, a notable slowdown compared to the more rapid rental inflation observed from 2021 through 2023, when annual growth rates approached 10 percent.

Market analysts attribute the sustained upward pressure on rents to a persistent imbalance between supply and demand. The available stock of rental properties remains limited, constraining tenant choice and supporting elevated asking prices. While the rate of price growth has moderated, the ongoing supply constraints suggest that rents are unlikely to decrease in the near term.

These trends underscore the challenges facing prospective renters in the UK, particularly in London where the cost of housing continues to rise to unprecedented levels. The data suggests that rental affordability may remain a concern for many tenants as landlords maintain asking prices at historically high points.