The UK now has the most competitive rental market in living memory, portal Rightmove has claimed.

Its latest rental trends tracker reveals that this competition has pushed up rents outside London by 10.8% over the past 12 months, the first time this figure has ever exceeded 10%, while rents are now 15% higher than just before the pandemic hit.

This is being created by extraordinary tenant demand but an ongoing but significant drop in properties available to rent; tenant demand is up 6% but stock is down 50% compared to a year ago.

The figures for London are an 81% jump in tenant demand and a 47% drop in stock, leading to a new record of £2,193 rent being achieved for each tenancy on average.


Rightmove says the result of this ongoing mismatch between tenant demand and the properties available to rent means that tenants looking for a new place to move to are being faced with the most competitive rental market that the property portal has ever recorded.

Finding a reasonably-priced rental property means many tenants are now considering areas they otherwise would not have considered in suburban areas around cities.

Rightmove cites two examples in Merseyside, Prenton and Birkenhead, where average asking rents are £591 and £551pcm respectively compared to £876pcm on average for nearby Liverpool.

“There are several factors affecting supply and demand,” says Rightmove’s Director of Property Data Tim Bannister.

bannister rightmove

“On the supply side, we’re hearing from agents and landlords that tenants are signing longer leases, which has prevented some of the stock that would normally come back onto the market from doing so.

“When it comes to demand, we’re still seeing the effects of the pandemic, whereby tenants are balancing what they need from a home and how close they need to live to work with where they can afford.”

Read the rental trends tracker in full.


  1. Of course supply is dwindling, the government and local councils have squeezed landlords until the pips squeak so they’re leaving the sector in droves. I had a small portfolio but got sick and tired of being absolutely clobbered so decided to sell. I took on DSS tenants as well.

  2. I wonder why this is happening? It really is a mystery. But maybe it’s got something to do with the government (allegedly Conservative) constantly attacking landlords with endless legislation. They do this to get in with the young tenant vote. But maybe they’ve never heard of the Law of Unintended Consequences…

  3. So no acknowledgement that over 2.5 million illegal immigrants and 6 million legal EU immigrants might have have SOMETHING to do with a lack of supply.

    No amount of property building could catchup with the 8 million immigrant requirements.

    But we are where we are and sucking in millions of legal and illegal immigrants will and has impacted on British Nationals seeking rental accommodation.

    It is simply IMPOSSIBLE to build sufficient property to meet demand.

    Only by closing borders will over the next 50 years be there are chance of building enough properties to meet demand.

    This will NEVER happen

    With continuing efforts by Govt to force small LL out of business things will get ever worse for tenants.

    The PRS will decline to as decades ago to about 6% or even less

    The direction of travel is clear.

    More homeowners.

    That means millions of homeless tenants.

    Govt DOESN’T seem to be bothered about homeless tenants.

    None of these will buy as there has been nothing preventing them from buying already.

    They just CAN’T afford to.

    Forcing small LL to sell WON’T magically make ex-LL properties affordable for tenants!!

    Few tenants would vote Tory so Govt ISN’T that bothered by homeless tenants.

    They are electorally not winnable so why bother assisting tenants!?

    You can see the Govt logic of trying to force everyone to become a homeowner.

    But very few tenants can afford to buy.

    Most FTB AREN’T former tenants.

    LL will continue to face increasing pressure to sell up.

    LL haven’t seen the worst of what is to come.

    Things will be made even more difficult for LL.

    LL will give up.

  4. Watch out for Rightmove – they have a hidden agenda of taking over Estate Agents and controlling the BTL market then, you will really see rents rise. If industry ‘Experts’ are telling you to sell, you must know that it is time not to sell or, buy more, as highly-geared investors exit the market.

  5. I really like the arithmetical test before posting, maybe we could make it compulsory for all MPs and then, they might see how they will make people homeless with their ignorant & constant meddling?


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