The agents’ body, Propertymark, has issued its monthly assessment of the rental market.
This time it’s for December, showing a seasonal slowdown but with affordability pressures remaining entrenched.
The main points:
- Year-on-year trends continue to show only modest movement, with the income required to rent remaining broadly stable across most regions, reinforcing the long-term affordability challenge facing tenants;
- The most notable shifts in the market are now happening month-on-month, with several regions experiencing sharp short-term declines in rent levels as seasonal demand cools and price sensitivity increases, particularly in Yorkshire and Humberside, which saw a 12.3% drop in the average rent level, and the North East, which witnessed a decline of 22%;
- While some areas are seeing pronounced softening, others remain more resilient, with regions such as London, Scotland, and parts of the East of England showing steadier conditions and less short-term volatility;
- Overall, the market is becoming increasingly uneven: national averages suggest stability, but localised movements highlight how affordability pressures can intensify or ease rapidly depending on timing and location.
This monthly report examines the average agreed rental prices alongside the typical average annual salary required by referencing agencies to affordably rent across various regions.
By exploring these key indicators, Propertymark says it aims to shed light on the affordability and accessibility of private rented housing relative to income levels.
December 2025:
| Location | Average rental price | Representative average annual salary needed to secure the average-priced home (before tax and any deductions) |
| Scotland | £1,039 | £31,170 |
| Northern Ireland | £945 | £28,350 |
| Wales | £1,104 | £33,120 |
| East Midlands | £1,044 | £31,320 |
| East of England | £1,322 | £39,660 |
| London (inner and outer London) | £2,125 | £63,750 |
| North East | £993 | £29,790 |
| North West | £1,121 | £33,630 |
| South East | £1,536 | £46,080 |
| South West | £1,483 | £44,490 |
| West Midlands | £1,087 | £32,610 |
| Yorkshire and Humberside | £1,031 | £30,930 |
December 2024:
| Location | Average rental price 2024 | Representative average annual salary needed to secure the average-priced home (before tax and any deductions) |
| Scotland | £1,036 | £31,080 |
| Northern Ireland | £871 | £26,130 |
| Wales | £1,069 | £32,070 |
| East Midlands | £1,019 | £30,570 |
| East of England | £1,335 | £40,050 |
| London (inner and outer London) | £2,180 | £65,400 |
| North East | £963 | £28,890 |
| North West | £1,127 | £33,810 |
| South East | £1,573 | £47,190 |
| South West | £1,489 | £44,670 |
| West Midlands | £1,073 | £32,190 |
| Yorkshire and Humberside | £1,043 | £31,290 |
Change seen in the average salary required year on year:
| Location | December 2024 – typical annual salary needed to secure a home (before tax and deductions) | December 2025 – typical annual salary needed to secure a home (before tax and deductions) | % change in salary needed |
| Scotland | £31,080 | £31,170 | +0.3% |
| Northern Ireland | £26,130 | £28,350 | +8.5% |
| Wales | £32,070 | £33,120 | +2.8% |
| East Midlands | £30,570 | £31,320 | +2.5% |
| East of England | £40,050 | £39,660 | -1% |
| London (inner and outer London) | £65,400 | £63,750 | -2.5% |
| North East | £28,890 | £29,790 | +3.1% |
| North West | £33,810 | £33,630 | -0.5% |
| South East | £47,190 | £46,080 | -2.4% |
| South West | £44,670 | £44,490 | -0.4% |
| West Midlands | £32,190 | £32,610 | +1.3% |
| Yorkshire and Humberside | £31,290 | £30,930 | -1.2% |
Average monthly rental price month-on-month comparison (November 2025 compared to December 2025):
| Location | Average monthly rental price – November 2025 | Average monthly rental price – December 2025 | % change (difference from Nov to Dec) |
| Scotland | £1,053 | £1,039 | -1.3% |
| Northern Ireland | £924 | £945 | +2.3% |
| Wales | £1,182 | £1,104 | -6.6% |
| East Midlands | £1,104 | £1,044 | -5.4% |
| East of England | £1,367 | £1,322 | -3.3% |
| London (inner and outer London) | £2,208 | £2,125 | -3.8% |
| North East | £1,273 | £993 | -22% |
| North West | £1,176 | £1,121 | -4.7% |
| South East | £1,606 | £1,536 | -4.4% |
| South West | £1,578 | £1,483 | -6% |
| West Midlands | £1,167 | £1,087 | -6.9% |
| Yorkshire and Humberside | £1,176 | £1,031 | -12.3% |
Megan Eighteen, President of ARLA Propertymark (Association of Residential Letting Agents), comments: “While the private rented sector remains under long-term pressure, recent data shows that some areas have experienced notably sharp falls in rent levels over a very short period.
“These month-on-month declines suggest a cooling in parts of the market as seasonal demand eases and renters become more price-sensitive.
“However, this should not be mistaken for a broader reset in affordability.
“Even where rents have dipped, the overall cost of renting remains high relative to incomes, and supply shortages continue to limit choice for tenants.
“Without meaningful increases in the number of homes available to rent, any short-term softening is likely to be uneven and temporary, rather than a sign of lasting improvement for renters.”
