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NextRental yields increase across every region in England and Wales Print
The UK rental market showed a mixed regional picture in March 2026, with movements in average agreed rents varying significantly across the country, according to the latest analysis from Propertymark.
In Scotland, average rents rose to £1,123, up 4.95% month on month, while Northern Ireland recorded the second-largest increase, rising 3.99% to £887 from £853 in February.
By contrast, rents in London edged down 1.5% over the same period, falling from £2,226 to £2,193, while the West Midlands remained broadly unchanged month on month.
Affordability pressures also varied regionally on an annual basis. In Wales, the average household salary required to rent rose from £29,970 to £31,320, while in Northern Ireland the figure fell from £28,290 to £26,610, a 5.94% decrease year on year.
Overall, the data points to a fragmented rental market, with regional differences in both rent levels and income requirements continuing to widen amid broader economic pressures.
March 2026:
Location Average rental price Representative average annual salary needed to secure the average-priced home (before tax and any deductions) Scotland £1,123 £33,690 Northern Ireland £887 £26,610 Wales £1,044 £31,320 East Midlands £979 £29,370 East of England £1,324 £39,720 London (inner and outer London) £2193 £65,790 North East £862 £25,860 North West £1,089 £32,670 South East £1495 £44,850 South West £1,309 £39,270 West Midlands £1,040 £31,200 Yorkshire and Humberside £945 £28,350March 2025 (for comparison):
Location Average rental price Representative average annual salary needed to secure the average-priced home (before tax and any deductions) Scotland £1,082 £32,460 Northern Ireland £943 £28,290 Wales £999 £29,970 East Midlands £992 £29,760 East of England £1,345 £40,350 London (inner and outer London) £2,226 £66,780 North East £875 £26,250 North West £1069 £32,070 South East £1496 £44,880 South West £1332 £39,960 West Midlands £1,050 £31,500 Yorkshire and Humberside £936 £28,080Change seen in the average salary required year on year:
Location March 2025 – typical annual salary needed to secure a home (before tax and deductions) March 2026 – typical annual salary needed to secure a home (before tax and deductions) % change in salary needed Scotland £32,460 £33,690 +3.79% Northern Ireland £28,290 £26,610 -5.94% Wales £29,970 £31,320 +4.50% East Midlands £29,760 £29,370 -1.31% East of England £40,350 £39,720 -1.56% London (inner and outer London) £66,780 £65,790 -1.48% North East £26,250 £25,860 -1.49% North West £32,070 £32,670 +1.87% South East £44,850 £44,850 0.00% South West £39,960 £39,270 -1.73% West Midlands £31,500 £31,200 -0.95% Yorkshire and Humberside £28,080 £28,350 +0.95%Average monthly rental price month-on-month comparison (February 2026 – March 2026):
Location Average monthly rental price – February 2026 Average monthly rental price – March 2026 Percentage change (difference from Jan to Feb) Scotland £1,070 £1,123 +4.95% Northern Ireland £853 £887 +3.99% Wales £1,043 £1,044 +0.10% East Midlands £1,027 £979 -4.67% East of England £1,324 £1,328 +0.30% London (inner and outer London) £2,226 £2193 -1.48% North East £908 £862 -5.07% North West £1,102 £1,089 -1.18% South East £1,521 £1495 -1.71% South West £1,372 £1309 -4.59% West Midlands £1,040 £1,040 0.00% Yorkshire and Humberside £954 £945 -0.94%Megan Eighteen, president of ARLA Propertymark (Association of Residential Letting Agents), commented: “The rental market remains dynamic across many regions when viewed on a month-by-month basis. Price fluctuations are driven by a range of factors, including the volume and type of properties available at any given time, as well as local employment opportunities and their influence on demand. Together, these elements shape how consumers assess their options.
“Overall, rental inflation has been slowing since late 2024 on a year-on-year basis. However, looking ahead, it is important to consider ongoing global uncertainty and the potential impact this may have on the UK economy in the short to medium term, particularly in relation to household affordability.
“At present, it is still too early to determine the future direction of the rental market. A wide range of variables remain in play, including the full impact of recent legislative changes, which has yet to be realised, alongside broader economic pressures that have not yet fully filtered down to consumers.”
Rental yields increase across every region in England and Wales
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