Propertymark’s latest rental data shows affordability has improved across much of the UK over the past year, with the salary needed to rent an average-priced home falling in most regions. While rents continued to rise in parts of the country, including London and the North West, other areas recorded stable or lower rental prices. The figures highlight an increasingly regional rental market, with demand for quality homes continuing to exceed supply.
- London's required rental salary fell 17% to £71,550.
- London rents increased 3.4% to £2,385 in June.
- The North West recorded the largest affordability improvement, with the required salary down 17.5%.
- Yorkshire and Humberside saw the required salary fall 14.5%.
- Scotland recorded the largest monthly rent decline.
- Propertymark said demand for quality rental homes continues to outstrip supply.
Original article source: Property118
Falling salary requirements alongside generally stable or rising rents suggest the rental market is becoming more sustainable rather than losing momentum. After several years of exceptionally strong rental growth, affordability is beginning to improve in many regions without undermining rental values. London’s 17% reduction in the representative salary needed to rent, despite rents increasing to £2,385 in June, illustrates that affordability can strengthen even while demand remains strong.
The figures also point out how regional performance is becoming increasingly important. Markets such as the North West continue to deliver rising rents while recording some of the strongest improvements in affordability, making them attractive for both tenants and landlords. Meanwhile, regions including Scotland and Wales experienced modest monthly rent declines, highlighting that local supply and demand dynamics are now playing a greater role than national trends alone.
Perhaps the most significant takeaway is that the underlying imbalance in the rental market has not disappeared. Propertymark continues to report that demand for quality rental homes exceeds available supply, a factor that should continue to support rental values over the longer term. For landlords and investors, this points to a market that is settling into a healthier pace of growth, where well-located properties in areas with strong tenant demand remain well positioned for sustained performance.
