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England and Wales: Fleet reports rental yields of 7.9% in Q3

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Fleet Mortgages reports an average annual rental yield of 7.9% across England and Wales in its Q3 2026 Rental Barometer, up from 7.5% in the same quarter of 2025. The lender published its latest figures on 5 October.

The barometer combines Fleet’s own buy-to-let mortgage data with market data and covers the regions where it lends. It offers a view of that part of the market, rather than a survey of every landlord or rented home.

The regional figures varied considerably. Yorkshire and Humberside recorded 9.3%, while Greater London stood at 6.4%. Wales was one of two regions where the reported yield fell over the year, dropping from 8.2% to 7.5%; the other was the North West.

Fleet’s borrower figures also show a shift towards larger portfolios. Its borrowers owned an average of 18 investment properties, compared with 12 a year earlier. Landlords with one to three buy-to-let properties accounted for 24% of its Q3 applications. These figures describe Fleet’s borrowers and applications, rather than the typical landlord across England and Wales.

A higher reported yield alone does not establish a landlord’s profit after borrowing, repairs and other costs. Our September report on HMRC’s rental income and expense data looks at costs recorded in landlords’ tax returns.

Sources

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