UK rental prices continued to rise in May 2026, with the average rent across the country reaching £1,340. London saw a notable increase, with average rents climbing to £2,161, reflecting ongoing upward pressure on rental costs in the capital and beyond.

National and regional rent increases

According to data from HomeLet, rents rose in 10 of the 12 UK regions monitored during May. The average rent nationally increased by 1.1% compared to April’s £1,325 and was 2.5% higher than the £1,307 recorded in May 2025. Outside Greater London, the average rent rose to £1,146, up 1% from £1,135 the previous month, marking a 2% increase year-on-year from £1,124.

Greater London experienced a 1.6% rise in May, pushing average rents up by £33 from £2,128 to £2,161. This represents a 3.5% increase compared to the same month last year when rents averaged £2,088. Scotland recorded the largest monthly increase at 1.9%, while the East of England also saw a 1.6% rise. Northern Ireland was the only region to see a monthly decline, with rents falling by 0.5%, and the North East remained unchanged.

Annual growth highlights

On an annual basis, Scotland led rent growth with a 3.9% increase year-on-year. Greater London and the North East both recorded 3.5% annual growth. These figures highlight regional variations in rental market dynamics, with some areas experiencing stronger upward trends than others.

Rents are going up

Jo Dickens, head of business development at HomeLet and Let Alliance, commented on the data: “May’s data underlines that, while the pace of growth remains measured, rents are still edging upwards across much of the UK.” She emphasised that affordability remains a significant concern for tenants, noting that “the modest, incremental increases we’re seeing will be felt.”

She added: “The priority for agents and landlords remains sustainable tenancies – balancing fair market rents with what tenants can realistically afford.” This highlights the ongoing challenge for landlords and letting agents to manage rent levels responsibly while maintaining viable rental incomes.

What this means for landlords

For landlords, the continued rise in rents presents both opportunities and responsibilities. Incremental rent increases can help offset inflationary pressures and rising costs associated with property management and maintenance. However, landlords must remain mindful of tenant affordability to sustain tenancies and reduce turnover.

Balancing fair market rents with tenant capacity to pay is critical in maintaining long-term, sustainable rental agreements. The regional variations in rent growth also suggest that landlords should stay informed about local market conditions to set competitive and realistic rents.

Source: Based on reporting from Property118

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