Record asking rents, but less competition: what Rightmove’s Q2 2026 tracker means for renters

Record rents and easing competition can exist at the same time. Rightmove’s Q2 2026 Rental Price Tracker reports higher advertised rents in both London and Great Britain outside the capital, while average enquiries per rental home remain well below their 2022 peak. For tenants, that is a reason to prepare carefully—not to assume every listing requires an immediate decision. Source: Rightmove

Evidence date: this article uses Rightmove’s Q2 2026 figures from the supplied source record dated 31 July 2026. They are a quarterly snapshot, not an October 2026 price check. The report describes Great Britain; do not apply its headline figures to Northern Ireland.

What has changed?

Rightmove reports an average advertised monthly rent of £1,397 outside London, up 1.9% over the quarter and 2.3% over the year. In London, the average was £2,791, up 2.0% over the quarter and 2.9% annually. Both were records in this Q2 2026 report. These are advertised rents for homes coming onto the market, rather than a measure of what every existing tenant pays. Source: Rightmove

Meanwhile, available rental homes were 1% below the level a year earlier. Rightmove suggests this reflected fewer newly listed properties more than a faster-moving market. That distinction matters: a smaller pool of listings does not, by itself, establish that homes are being snapped up more quickly. Source: Rightmove

The average rental home received 10 enquiries, compared with 11 a year earlier and 22 at the 2022 peak. Competition had eased on that measure, although enquiries remained above the pre-pandemic average of five. Enquiries are not the same thing as completed applications or successful tenancies, so avoid treating the figure as your personal odds of securing a home. Source: Rightmove

What this means for your search

The useful takeaway is not “rent anything quickly” or “wait for prices to fall”. Neither conclusion follows from this report. Instead, separate two questions: can you afford this particular home, and how much suitable choice do you have locally?

Start with a firm monthly rent ceiling based on your own budget. Then compare listings that actually meet your requirements: property size, location, condition and move-in timing. Use the headline averages as background, not as a recommended price or a verdict that an individual listing is good value.

Keep a simple search log:

• Asking rent and the date you checked it.
• Which of your essential requirements the home meets.
• Any advertised costs or details you still need clarified.
• Whether you requested a viewing and what response you received.
• Your reason for accepting or rejecting it.

This gives you a decision aid based on your search rather than the mood of a national headline. Use our rental viewing checklist to keep the property assessment separate from pressure about how much interest it has attracted.

A worked example: a headline is not your budget

Suppose you set a hypothetical rent ceiling of £1,400 a month and shortlist two homes: one advertised at £1,350 and another at £1,425. The second is £25 above your ceiling, or £300 over 12 months. The first leaves £50 a month below that ceiling.

Those figures are an illustration, not market estimates. The Q2 outside-London average of £1,397 does not make the £1,425 listing affordable for you, nor does it prove the £1,350 listing is a bargain. Source for the market average: Rightmove

Before deciding, write down what would justify any change to your ceiling and what spending you would reduce. If you cannot explain the trade-off clearly, keep the ceiling rather than letting the headline reset it.

Local differences matter more than the national mood

Rightmove’s Q2 figures show substantial regional variation. Annual advertised rent growth was 4.1% in both the North East and North West, compared with 1.5% in the East Midlands and East of England. Average enquiries were eight per property in London and 14 in the North West. Source: Rightmove

That makes a single national description of competition a poor substitute for checking your shortlist. London’s lower enquiry average does not cancel out its higher headline rent, and the North West’s stronger enquiry figures do not tell you how many people want a particular home.

If your search is producing few suitable options, try changing one preference at a time—such as search area or move-in timing—while keeping affordability and essential requirements visible. You can use our postcode resource alongside your own listing comparisons.

If you are already renting

This tracker is market context, not a notice changing your rent. It does not establish what increase is permitted for your tenancy or which procedure applies in your jurisdiction. If a landlord proposes a change, separate their market-price argument from the tenancy-specific legal questions.

The source also refers to the Renters’ Rights Act, but it is not sufficient evidence for explaining commencement dates, territorial application or individual rights. Those points need separate, jurisdiction-specific sources before being added to advice.

Bottom line: the Q2 evidence points to higher asking rents without a return to peak enquiry levels. Set your budget first, test the local market through comparable listings, and make each viewing count. Source: Rightmove