But average rents fell in October

UK renters spent a higher share of their income on rent in October, despite a monthly fall in rent prices, according to the latest HomeLet Rental Index.

It showed that UK renters spent an average of 32.7% of their income on rent in October, up from 32.1% in September, despite average rents falling 0.9% lower than in September to £1,375. The average rent remained 2.2% higher than in October 2025, however.

Outside Greater London, the average rent was £1,164, down 1.0% on the previous month and up 2.3% year on year, with renters spending an average of 31.1% of their income on rent, compared with 30.5% in September.

Carrie Alliston, head of partnerships at HomeLet and Let Alliance, said: “UK renters are spending almost a third of their income on rent – and that proportion is still rising.”

South East records largest fall in average rent

The South East recorded the largest monthly fall in average rent, down 2.7% to £1,432. Scotland followed with a 2.6% fall to £1,026, although it also recorded the strongest annual increase, with rents up 4.8% compared with October 2025.

Greater London remained the most expensive region, with an average rent of £2,260. This was 0.5% lower than in September but 1.9% higher than a year earlier. The North East had the lowest average rent at £727, while the East Midlands was the only region to record an annual fall in rent, down 0.6% to £925.

The highest proportion of income spent on rent was in Northern Ireland at 39.4%, although this was down from 39.7% in September. London followed at 38.9%, up from 37.9% the previous month.

Scotland had the lowest proportion at 26.8%, up from 26.4% in September. The East Midlands was the only region where the proportion remained unchanged month on month, at 28.2%.