Advertised rents for the properties in Greater London that online agency Hello Neighbour listed were 6.1% higher in September than a year earlier, at an average of £2,448. 

That makes five months in a row of year-on-year growth since the Renters Rights Act came into force, although the rate has slowed from 9.8% in August. 

Rents are still almost 13% above where they were between January and April.

A statement from the agency says: “We believe prices have held up because supply is falling. Zoopla’s Rental Market Report … has the number of homes available to rent in London 6% lower than a year ago, and 13% lower in inner London. 

“Zoopla links this to higher mortgage rates keeping would-be first-time buyers renting for longer, and argues that market forces are doing more than the Renters Rights Act, pointing to Scotland, which has run a similar system for some years. 

“If Zoopla is right, and with interest rates expected to rise from here, we can expect this trend to continue.”

Hello Neighbour, which operates chiefly in London and some larger cities, say the Act is still shaping how landlords set the opening rent. 

Since May, landlords cannot accept offers above the advertised asking price, and rent increases are limited to once a year, which has encouraged landlords to list higher at the outset. 

“Many of the conversations we are having with landlords support this” adds the agency.

It says affordability remains the binding constraint in London, so it expects achieved rents to keep growing more slowly than advertised for the rest of 2026. 

It also expects continued hard negotiation on initial rent levels.

There has been no significant change in demand. 

The agency notes that it’s recorded 34 enquiries per property in September, down from 40 in August and below the 45 it saw in September 2025, 61 in September 2024 and 65 in September 2023. 

Demand has been steady across the year, averaging 33 from January to May and 38 from June to September, but every month has been lower than the same month last year.

You can read the full update on the Hello Neighbour blog here: https://www.hello-neighbour.com/insights/london-rents-up-6-1-as-fewer-homes-come-to-market-and-demand-holds-below-last-year