Rents Hit New Highs – But Is the Tide Turning for Landlords?
Rightmove’s latest Rental Trends Tracker has landed, and it’s packed with insight for landlords across the UK—and especially here in Retford and the surrounding area. While rents have climbed once again, there are signs the market is slowly rebalancing after years of intense pressure. So, what do you need to know this month?
🔼 Rents Reach Record Highs
The average advertised rent outside London has risen to £1,349 per calendar month, marking yet another record. In London, the average is now £2,698. That’s the 14th consecutive quarterly increase—though the pace of growth is slowing.
Here in the East Midlands, we're still seeing strong tenant demand, but with more homes becoming available, some landlords are beginning to price more competitively.
🏘️ More Homes to Let – But Still Not Enough
There’s good news for tenants and landlords alike: 11% more rental properties came onto the market in March compared to the same time last year. It’s the strongest growth in new listings since pre-pandemic days.
However, even with that increase, the number of homes available is still 33% below 2019 levels, and with 10% more tenants actively looking, competition remains high in many areas.
📉 Signs of a Cooling Market
For the first time in a while, landlords are starting to adjust prices in response to local conditions:
- One in four listings across the UK now see a price reduction before being let.
- The average number of tenant enquiries per property has dropped slightly from 16 to 12 year-on-year.
- In areas like London, the competition has eased to around 8 enquiries per home, while hotspots like the North West still see around 18 enquiries per property.
What does that mean for Retford landlords? Strategic pricing matters more than ever. An overambitious figure could lead to longer voids—something we help our landlords avoid.
🧾 Buy-to-Let Bounce Back?
Despite uncertainty in recent years, landlords are returning to the market:
- Buy-to-let lending rose by 32% at the start of 2025, as investors eye potential returns amid strong rental yields and slightly improving mortgage deals.
That said, landlords must keep a close eye on legislation (more on that below), and ensure their properties are well-presented and competitively priced to stay ahead of the curve.
⚖️ Renters’ Rights Bill: Quiet Before the Storm?
Although no big changes have hit yet, we’re expecting the Renters’ Rights Bill to gather pace in the coming months. With Section 21 ‘no fault’ evictions on the way out, along with increased notice periods and tighter regulations, landlords need to be prepared.
At Nicholson’s, we’re already helping our landlords future-proof their portfolios—offering clear guidance and in-house lettings support, so you’re never caught off guard.
🧭 Our Take at Nicholson’s
The rental market is still moving, and strong tenant demand remains—but we’re seeing signs of a shift.
✅ Rents are high, but growth is softening.
✅ More properties are being let, but competition varies widely by area.
✅ Pricing, presentation and preparation are more important than ever.
Whether you’re an experienced landlord or just starting out, it’s a good time to take stock and make sure you’re aligned with the market—and the incoming legislation.
📞 Need Advice?
If you’re thinking of letting, reviewing your portfolio, or just want an honest conversation about what’s next, we’re here to help. Get in touch with the Nicholson’s lettings team today.
