Tenants are now spending nearly a third (32.7%) of their income on rent, according to the latest research.
And the pressure on household budgets is growing as rents rise throughout the country. Lomond’s Summer 2026 Quarterly Insights report shows the UK average rent is now £1,369pcm, up 4.3% over the past year
Rents in the North West and Yorkshire have risen by 5%, to £1,215pcm and £1,283pcm respectively, but the issue is most acute in London, where the average rent is 76% above the national average at £2,418pcm.
The increasing gap between rent and wages is beginning to affect tenant behaviour, with renters becoming more selective about value, location and property quality.
Properties on the market for longer
It means the average time taken to let a property has risen by 34% over the past year to 63 days.
When this is combined with the Renters’ Rights Act’s ending of fixed-term tenancies, once tenants find the right home, they are also staying for longer.
In the North West, the number of tenants vacating properties has fallen by 27% compared with a year ago, with Lomond pointing to affordability and a desire for stability.
There is evidence of similar trends elsewhere. Checkouts in the Midlands have fallen by 14%, with tenants choosing stability over flexibility, while in the South fewer properties are returning to the market as renters stay put.
Searching further afield for value
Those tenants who do want to move are increasingly looking outside the main urban centres, where they can find cheaper rents and more space for their money.
In the North West, for example, rural and semi-rural towns between Liverpool and Manchester are experiencing increased demand as renters look to balance affordability with lifestyle and convenient commuting.
Two-bedroom apartments just outside the major city centres are proving particularly popular where they offer access to green space and good transport links.
Getting the price right
Tenants are well informed about what represents fair value, too, with the report showing that even in the highest-demand locations, properties priced above comparable homes are taking longer to let.
It is well-maintained and well-presented properties that are performing best, with Lomond reporting that they attract the kinds of tenants who are likely to stay for longer.
For landlords, this change in tenant behaviour puts greater emphasis on positioning and pricing, with properties needing to offer the right combination of value, quality and location to attract increasingly selective tenants.
John Ennis, Chief Revenue Officer at Lomond, says: “What we’re seeing across the UK is not a slowdown in demand, but a shift in renter priorities, with tenants increasingly focused on long-term value.”
He adds: “What remains consistent is a continued appeal for high-quality rental accommodation in locations that offer a compelling balance of affordability, connectivity and lifestyle.”
