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Mon 28 Apr 2025
Read the latest quarterly Rental Trends Tracker
Headlines from Rightmove's April report:
Rents rise to new record:
- Average advertised rents outside London rose to a new record of £1,349 per calendar month in Q1 2025 (+4.5% versus the same time in 2024).
- This is the smallest increase in rents at this time of year since 2020.
- London rents hit a 14th consecutive record at £2,698 per calendar month (+2.5% versus the same time in 2024).
Supply continues to improve:
- The number of new properties coming into the market in March was 11% ahead of the same period last year, and the overall number of rental homes now available is 18% ahead of last year.
- The number of prospective tenants looking to move is 7% lower than March last year.
- An increase in first-time buyer activity at the start of this year is likely taking some demand away from the rental market.
Number of enquiries per property down annually:
- The average number of enquiries per rental property outside London this quarter is 12, cooling from 16 at this time last year.
- This is still over double the five in Q1 2019.
- However, there are regional variations in supply and demand as a typical rental home in London sees eight enquiries, compared with 18 in the North West.
More properties see reduction in advertised rental price:
- A quarter of rental properties are seeing a reduction in the advertised price.
- This is the most at this time of year since 2018, a sign of a less frenetic market.
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