"Not only has top-line rental growth across the capital remained unchanged when compared to the equivalent period prior to Royal Assent, but the majority of boroughs have actually seen the pace of rental growth slow"
- Marc von Grundherr - Benham and Reeves
Rental yields and rents across London have remained largely stable since the Renters' Rights Act received Royal Assent, with new research showing little evidence that landlords have responded to the reforms by increasing rents at a faster rate.
Analysis by London lettings and estate agency Benham and Reeves examined average private rental values across all London boroughs. The research compared the five months before the legislation received Royal Assent on 27 October 2025, covering May to October 2025, with the subsequent five-month period from October 2025 to March 2026.
The findings show that average rents across the capital increased by 0.7% in the period following Royal Assent. This matched the rate of growth recorded during the previous five-month period.
While headline rental growth remained unchanged across London as a whole, performance varied considerably at the borough level.
Rental growth slows across most boroughs
According to the analysis, 18 of London's 32 boroughs saw the pace of rental growth slow after the Renters' Rights Act became law.
Kingston upon Thames recorded the largest change. Rents increased by 2.9% between May and October 2025 but fell by -1.9% during the following five months, representing a slowdown of 4.8 percentage points.
Camden also saw a more pronounced decline, with rents falling by -5.0% after Royal Assent compared with a decline of -1.0% in the preceding period.
Other boroughs where rental growth eased included:
- Havering, where growth slowed from 3.5% to 0.3%
- Bexley, where rental growth fell from 3.9% to 1.1%
- Westminster
- Barking & Dagenham
Although most boroughs recorded slower growth, some areas experienced stronger rental performance after the legislation took effect.
Brent saw the most significant turnaround. After rents fell by -5.2% during the five months before Royal Assent, they increased by 2.2% in the following five months, a swing of 7.4 percentage points.
Richmond upon Thames recorded an increase in rental growth of 2.5 percentage points, while Southwark (+2.3 percentage points), Greenwich (+2.0 percentage points), Waltham Forest (+1.8 percentage points) and Islington (+1.7 percentage points) also saw growth accelerate.
Landlords show consistency despite reforms
"One of the key concerns surrounding the Renters' Rights Act was that landlords would look to offset the additional regulatory burden by increasing rents, but the data suggests this simply hasn't happened across London," said Marc von Grundherr, director of Benham and Reeves.
"Not only has top-line rental growth across the capital remained unchanged when compared to the equivalent period prior to Royal Assent, but the majority of boroughs have actually seen the pace of rental growth slow.
"This demonstrates that landlords aren't using the legislation as an excuse to increase rents and, ultimately, rental values continue to be driven by local market fundamentals - namely the balance between supply and tenant demand, rather than legislative change alone.
"Whilst landlords are facing greater responsibilities and compliance requirements than ever before, the vast majority recognise the importance of securing and retaining good tenants. The reality is that affordability remains a key consideration for both sides of the market and, despite the narrative surrounding rental reform, London's landlords have shown considerable consistency since the legislation became law."
The findings suggest that local supply and demand dynamics continue to exert the strongest influence on rental values, with the impact of legislative reform varying considerably between boroughs rather than driving a uniform increase in rents across the capital.
