Average UK month-to-month non-public rents elevated by 7.0%, to £1,339, within the 12 months to May 2025, down from 7.4% within the 12 months to April.
Figures from the Office for National Statistics present that common rents elevated to £1,394 (7.1%) in England, £799 (8.5%) in Wales, and £999 (4.5%) in Scotland within the 12 months to May 2025.
Average rents elevated to £848 (7.7%) in Northern Ireland within the 12 months to March 2025.
Private rents annual inflation in England was highest within the North East (9.7%) and lowest in Yorkshire and The Humber (3.7%) within the 12 months to May 2025.
Sarah Coles, head of private finance at Hargreaves Lansdown, stated: “Hope blossomed for renters in May, as rent rises slowed once more. There are some indicators of extra stability returning to the market, with extra properties up for rent and fewer tenants on the hunt for a house. There have even been some rent reductions from landlords who realised they’d been over-optimistic with pricing.
“This owes a nice deal to how unaffordable rents have turn into. The reality rents have been rocketing for 4 years – effectively forward of wages – has pushed extra renters out of the market. Fewer are ready to depart the household house, extra are returning to it, and a few are stretching to a home buy to get out of the rental cycle. Meanwhile, rising rents are serving to to stability the books for landlords, so their exodus from the market is slowing.”
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Alex Upton, managing director – specialist mortgages & bridging, at Hampshire Trust Bank: “Rents proceed to rise, and it’s no shock. Supply continues to be struggling to meet demand, and competitors for well-located rental properties stays excessive. That stress is unlikely to ease within the close to time period. New housing supply could assist, however even when authorities targets are met, it’s going to take time for that inventory to attain and affect the rental market.”
