Propertymark's latest Housing Insight Report has revealed that demand for rental properties continued to outstrip supply significantly during November, with an average of six applicants per property available in November 2025.
Buyer conditions show signs of balance, but demand in the rental market continues to outstrip supply, keeping affordability pressures firmly in focus.
Tenant demand climbed in November 2025, with the average number of new prospective tenants registered per member branch rising slightly to 68. This metric indicates overall market demand and shows continued pressure on the rental sector.
Fully managed instructions saw a recovery during the month. The average number of new property instructions increased to just over 3.65 per member branch in November 2025.
Overall stock showed a slight lift compared to the previous month, with the average number of properties available for rent growing to 10.82 per member branch. However, demand continues to outpace supply significantly, with around six applicants competing for each available property.
The number of tenancies agreed declined compared to the month beforehand. The average number of new tenancies agreed per member branch sat at 7.44 in November 2025.
Rents
Rents saw marginal climbs across the UK during November. Average rent reached £1,422 in England, £1,012 in Scotland, and £880 in Wales. Average UK rents stood 4.4% higher than in November 2024 and 0.4% higher than in October 2025.
Rental prices continued to show fluctuations throughout the month. In November, 49% of member agents reported that rents remained generally static, while 31% reported an overall fall and 20% reported increases.
Rental arrears witnessed by member agents showed a slight climb in November 2025. The level of rental arrears indicates the state of consumer finances, with the magnitude of member agents reporting problems with arrears increasing to 2.2%.
Void periods remained broadly flat during November. The length of void periods serves as a good indicator of how dynamic the market is, with the average void period reported by member agents standing at 3.4 weeks.
Nathan Emerson, chief executive of Propertymark (pictured), commented on the ongoing challenges. "In lettings, the gradual rise in available stock is a welcome sign, but with demand continuing to outstrip supply in many areas, affordability pressures for tenants remain acute," he said. "These figures reinforce the need for long-term policy certainty to support both buyers and renters, alongside a stable operating environment for agents on the front line."
Phil Spencer, founder of Move IQ, noted the importance of acting decisively in the current market. "For renters, any increase in available properties is positive, but choice remains limited in many locations, so acting quickly and understanding your budget is still key," he explained. "Whether buying or renting, consumers who take the time to get good advice and stay flexible are best placed to make confident decisions in the current market."
