UK private rents have continued to rise steadily, increasing by 3.5% in the year to April 2026, according to the latest data from the Office for National Statistics (ONS). Meanwhile, house prices across the UK have stalled, showing no annual growth for the first time since April 2024.

Rising rents across the UK

The average monthly private rent in the UK reached £1,381 in April, marking a 3.5% increase compared to the previous year. This rise was slightly higher than the 3.4% growth recorded in March, with all four UK nations experiencing rent increases.

In England, the average rent was £1,438 per month, up £48 or 3.5% from April 2025. The North East saw the highest annual rent inflation at 6.5%, while London recorded the lowest at 2%. Despite this, London boroughs remain the most expensive, with Kensington and Chelsea commanding an average rent of £3,597 per month. Outside the capital, Oxford had the highest average rent at £1,956, while Dumfries and Galloway in Scotland had the lowest at £552.

Nationwide rent trends

Wales experienced a sharper rise in rents, with a 4.9% increase to an average of £834 per month. Although this was a slight acceleration from March’s 4.8% rise, it remains well below the peak of 8.9% seen in March 2025. Scotland’s average rent increased by 2.0% to £1,019, a £20 rise over the year, but this was the lowest annual increase in over four years and slightly down from 2.1% in March. In Northern Ireland, where the latest figures are from February, average rents rose 4% to £877, up £34 from the previous year.

House prices show no growth

In contrast to rising rents, UK house prices remained flat over the 12 months to March 2026, with the average property value standing at £268,000. This 0% annual growth represents a decline from 1.7% in February and is the lowest rate of house price inflation since April 2024. The slowdown followed a 0.4% monthly fall in prices between February and March 2026, compared with a 1.2% rise in the same period a year earlier, which preceded changes to Stamp Duty Land Tax in England and Northern Ireland.

Regional house price movements

England saw a 0.6% decrease in average house prices to £290,000, down £2,000 year-on-year. Wales recorded a 2.9% increase to £213,000, slightly lower than the 3.3% growth in February. Scotland’s average price rose 1.6% to £187,000, up £3,000 over the year but down from 2.5% growth the previous month. Northern Ireland remained the strongest market, with prices up 7.4% to £198,000, an increase of £14,000 compared to the same quarter in 2025.

Industry perspectives on rent and price data

Nathan Emerson, CEO of Propertymark, highlighted the ongoing imbalance between tenant demand and rental supply. He noted that despite a slight easing in inflation, rents continue to rise due to constrained supply in many local markets. Emerson pointed out that landlords face rising costs, taxation, and regulation, which limits the number of homes available to rent. He emphasised that the issue is one of supply rather than excessive demand and warned that without measures to support investment in the private rented sector, affordability pressures will persist.

Louisa Sedgwick, managing director of mortgages at Paragon Bank, observed that rent inflation has historically tracked wage inflation, a relationship that has normalised over the past year following post-Covid pressures. She added that geopolitical tensions, such as the conflict in Iran, may introduce further inflationary pressures affecting the rental market. Sedgwick also noted that 72% of landlords planning rent increases cite rising operational costs, with six in ten attributing this to a higher tax burden following the 2025 Autumn Budget.

Jeremy Leaf, a north London estate agent and former RICS residential chairman, remarked that the data predates the Renters’ Rights Act introduced in May 2026. He explained that many landlords have sold properties due to concerns about the new regulations, leading to reduced supply and increased rents for smaller properties. Leaf also noted that cost of living concerns continue to temper landlords’ expectations for higher returns.

Richard Donnell, executive director of research at Zoopla, attributed the stalling of house price inflation to Budget uncertainty over housing taxation in late 2025. He suggested that recent higher mortgage rates have yet to impact prices significantly. Donnell expects house price inflation to pick up as buyer activity grows, with evidence of increased sales and first-time buyer interest. He forecasted around 1.2 million housing sales in the coming year, slightly below last year’s total.

What this means for landlords

The continued rise in rents amid stagnant house prices reflects a challenging market for landlords. Supply constraints and regulatory pressures are driving rental inflation, while property values remain flat or decline in some regions. Landlords must navigate rising costs and taxation, which may limit their ability to expand portfolios or maintain existing properties. However, strong tenant demand, particularly for quality family homes near transport and employment hubs, suggests rental income potential remains robust.

Understanding these dynamics is crucial for landlords planning rent reviews or investment decisions. Supporting measures to encourage investment in the private rented sector could help alleviate supply shortages and improve affordability over time.

Source: Based on reporting from Property118

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