The average rent agreed for a new tenancy across the UK reached £1,382 a month in August 2026, according to the latest HomeLet Rental Index. That was 0.9% higher than in July and 4.1% higher than a year earlier.
The figures offer landlords a current view of achieved rents, but they should not be read as a suggested rent for an individual home. Location, property type, condition and local demand can produce a very different result.
London and the South West recorded the fastest monthly rises
HomeLet’s index, which covers newly agreed tenancies, put the average outside London at £1,179 a month. That was up 0.8% over the month and 3.4% over the year.
London remained much more expensive at £2,238 a month, following a 1.4% monthly rise and a 5.1% annual increase. The South West recorded a 2.3% rise from July, taking its average to £1,264. Northern Ireland also rose by 2.3% on the month, to £987.
The picture was not uniform. Average new-tenancy rents fell by 1.0% in Wales and 0.3% in the West Midlands during August. Yorkshire and Humberside had the lowest annual increase shown in the index, at 2.9%, while rents in Wales were 1.0% below their August 2025 level.
What the figures do — and do not — show
HomeLet says its figures are based on achieved rents and accurate tenancy start dates gathered through tenant referencing. Its methodology adjusts for changes in the mix of property types and locations. The index therefore measures newly agreed tenancies rather than every existing tenancy in the country.
That distinction matters when comparing the figures with official statistics. The Office for National Statistics measures rents across both new and existing tenancies. Its latest available bulletin, published on 19 August, estimated that the average UK private rent was £1,393 in July 2026, 3.7% higher than a year earlier. Different coverage and methods mean the two averages should not be treated as directly interchangeable.
For landlords reviewing a letting, the useful comparison is with genuinely similar properties in the same local market. Recent achieved rents, the home’s size and condition, and any restrictions that apply to a current tenancy are more relevant than a national headline figure. Where a rent change is being considered, landlords should also follow the applicable tenancy rules for the nation in which the property is located.
