Average agreed rents across the UK were broadly flat in March, but the latest Propertymark tracker showed the market is still moving in very different directions depending on region. Scotland recorded the biggest monthly increase, with average agreed rents rising 4.95 percent to £1,123, while Northern Ireland climbed 3.99 percent to £887. London, by contrast, saw average rents dip 1.5 percent to £2,193.
Regional rent trends are still pulling in different directions
The figures matter for landlords because they suggest there is no single national rental story at the moment. In some parts of the UK, rents are still edging higher even as affordability remains stretched. In others, tenant budgets appear to be biting harder, limiting what landlords can achieve on new lets.
Scotland’s increase stood out most strongly in the March data, while the North East recorded the sharpest monthly fall at 5.07 percent. The South West also saw a notable drop, down 4.59 percent month on month, and the West Midlands was flat. That patchwork picture points to a market where local supply, local wages and the mix of homes coming to market are now having more influence than any broad national trend.
Landlords have already seen signs of that shift in Landlord Knowledge’s recent report on Scottish rents stabilising below inflation, which showed how parts of the market were starting to cool after a long period of relentless upward pressure. The latest tracker suggests that cooling is spreading unevenly rather than producing a clean nationwide slowdown.
Affordability pressure remains uneven
The salary data underlined the same point. Propertymark said the representative annual household salary needed to secure an average-priced rental home in Wales rose from £29,970 to £31,320 over the year, while the figure in Northern Ireland fell from £28,290 to £26,610. In London, tenants still need a household income of £65,790 to rent the average home, despite the modest monthly drop in rents.
For landlords, that means headline rent growth is no longer enough on its own. The real question is how much room tenants have left after mortgage costs, bills and inflation. In Landlord Knowledge’s March analysis of house prices and earnings, affordability pressures were shown to be easing only gradually in the sales market. The lettings data now suggests a similarly uneven adjustment in renting, with some regions still pushing higher while others look closer to tenant limits.
Megan Eighteen, President of ARLA Propertymark, said price movements were being shaped by the type of stock available, local employment conditions and how consumers weigh their options. She added that rental inflation has been slowing since late 2024 on a year-on-year basis, but warned it is still too early to call the direction of the market given wider economic uncertainty and the delayed effect of recent legislative change.
That caution looks justified. A market with flat national momentum but sharp regional variation is harder for landlords to read than one moving clearly up or down. It also raises the risk of overpricing in weaker areas while missing achievable rents in stronger ones. The underlying Propertymark housing insight reports show just how wide those regional affordability gaps have become.
What this means for landlords
- If you’re reviewing rents: use local comparables, not national headlines, because regional conditions are diverging more sharply.
- If you’re reletting in a softer market: realistic pricing may now matter more than chasing the last few pounds of headline rent.
- Watch for: affordability strain in higher-cost areas, especially where wage growth is not keeping pace with rents and household bills.
- Bottom line: the rental market has not stalled, but it is becoming more local, more selective and more sensitive to tenant budgets.
Editor’s view
Landlords should resist the temptation to read too much into a flat national picture. The more useful message is that local knowledge matters more again, because rents are no longer moving in step across the country.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 10 April 2026
Sources: Propertymark, ARLA Propertymark
Related reading: Scottish rents stabilise below inflation as market finds its level
