Rental stock across England has fallen by as much as 42% in some areas since the Renters' Rights Act took effect, with more than 15,500 fewer homes available to tenants than in the previous quarter, according to new analysis by The Letting Partnership.
Client accounting and compliance provider The Letting Partnership analysed Rightmove rental listings data for England, comparing the second and third quarters of 2026. The number of homes available to rent dropped from 127,696 to 112,190, a quarterly fall of 12.1%.
The decline follows the introduction of the Renters' Rights Act on 1 May, which brought substantial changes to the way landlords and letting agents operate in the private rented sector.
Rental stock falls sharply across major markets
The national fall reflects some substantial reductions in availability across England. The City of London recorded the largest quarterly reduction, with rental stock down 42.4%, while Bristol fell 36%. Merseyside saw a 30.5% drop, and Greater Manchester followed at 20.5%.
Oxfordshire and the West Midlands both lost 19% of their stock, and Greater London recorded an 18% reduction. South Yorkshire's rental stock fell 17.9%, followed by West Yorkshire at 16.9%, Nottinghamshire at 15.7%, and both Leicestershire and Tyne and Wear at 14.7%.
"The Renters' Rights Act represented an enormous change for the private rented sector and, just months after its introduction, we've seen a pretty dramatic reduction in the number of homes available to rent," said Chris Mason, CEO at The Letting Partnership.
"More than 15,500 rental properties have disappeared from the market in a single quarter, equating to a 12% reduction in available stock, although this reduction has been far more pronounced in some areas.
"One of the concerns throughout the build-up to rental reform was that the additional regulatory and compliance burden could deter landlords from remaining within the sector.
"Such a notable reduction in rental stock availability so soon after the Act came into force is certainly going to add fuel to those concerns.
"For landlords who remain, the sheer scale and complexity of their responsibilities has increased substantially, and we expect this to further strengthen the role of professional letting agents, particularly amongst those landlords who no longer feel comfortable navigating the regulatory landscape alone.
"However, that also means more responsibility for the lettings industry. As agents take on more fully managed properties, they are also taking responsibility for more tenancies, processing more rent and client money and shouldering a greater administrative and compliance burden.
"As the sector adjusts to life under the Renters' Rights Act, it's vital that the systems, processes and client accounting infrastructure sitting behind the industry are capable of keeping pace."
