Rental availability across England increased by 25% in the final quarter of 2025, according to new analysis from Inventory Base.
While seasonal factors typically lift supply at the end of the year, a 15.4% rise compared with Q4 2024 points to a larger-than-usual build-up of available homes.
The data challenges assumptions that the Renters’ Rights Act would immediately drive landlords out of the sector. Instead, rental stock rose sharply quarter on quarter, suggesting that supply remains in place even as market behaviour shifts.
Key findings from the Q4 data include:
rental stock up 25% compared with Q3 2025
availability 15.4% higher than the same period last year
London the only region to record an overall decline
Growth was strongest outside the capital. The City of Bristol posted a 74.8% quarterly increase, followed by Leicestershire at 67.6%, Tyne & Wear at 66.7%, Warwickshire at 66.4%, and West Yorkshire at 65.2%. Rutland and Merseyside also recorded increases of more than 60%, at 61.5% and 60.1% respectively.
London moved against the national trend. Rental stock in the City of London fell by 14.1% during Q4, while Greater London as a whole saw a smaller decline of 2.4%.
Inventory Base said the figures point less to landlords exiting the market and more to a slowdown in tenant movement, particularly as renters weigh up the impact of upcoming reforms.
"The Renters’ Rights Act fundamentally changes the risk profile for private landlords," said Sián Hemming-Metcalfe, operations director at Inventory Base. "It makes affordability harder to assess, limits how risk can be managed during a tenancy, and reduces the levers landlords have to protect their assets. That’s why there’s been so much noise about landlords exiting the sector.
"What these Q4 figures tell us is that this hasn’t happened yet. Instead, what we’re seeing looks much more like tenant hesitation. Tenants know the reforms are coming and, quite rationally, many are choosing not to move until those protections are firmly in place. When tenants stop moving, homes sit on the market for longer, and available stock builds up, even though the overall number of rental homes hasn’t changed.
"That slowdown in tenant movement is likely making life difficult for some landlords and developers right now, including in the build-to-rent space. Properties are available, but demand isn’t clearing them at the usual pace. Add to that the fact that Q4 is traditionally a quieter period for moves, and the picture becomes clearer."
"The real test will come as we move closer to implementation and into the summer, when the Act is fully live. Supply may tighten, but landlords tend to be more resilient than the commentary gives them credit for. What’s far less debatable is that operating a rental property is becoming more complex."
"From here on in, landlords are going to need to be much more deliberate. Strong compliance, watertight inventories and inspection reports, and clear documentation aren’t optional extras — they’re essential if landlords want to protect income, agents want to avoid disputes, and both want to stay on the right side of a rapidly changing regulatory landscape."
Inventory Base said the coming months will be a clearer indicator of how supply responds once the legislation is fully in force, particularly through the busier summer period when tenant turnover typically accelerates.
