More than a quarter of rental listings have been reduced in price during the first quarter of 2026, the highest number at this time of year since Rightmove began tracking data in 2012.

It reports a 3% rise in the number of available rental homes since a year ago, with supply at its highest level for this time of year since 2021, while the average rental home now receives eight enquiries, down from 11 in early 2025.

However, overall supply remains below longer‑term norms, particularly as there’s been no surge in newly listed homes for rent ahead of 1st May, says Rightmove. 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 was actually 6% lower than at the same point last year.  

Reliable

Ahead of the Renters’ Rights Act, agents report landlords taking a more measured, longer‑term approach, focusing on securing reliable tenants, avoiding void periods and ensuring properties remain competitively priced in a less pressured market.

Meanwhile, the average advertised rent of homes outside London remains flat at £1,370 per month, the first time since 2017 that there has been no rise from Q4 to Q1. However, while rents have levelled off, average advertised rents outside London are still 1.6% higher than this time last year.

Steady

Rightmove’s property expert Colleen Babcock says 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,” she adds.

“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.”

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