Renters offer above asking rents

6th December 2023

The demand supply imbalance in the rental market remains, with 17% of agents reporting that renters often offer above the asking rent, while 44% said that they sometimes do.

The average UK rent is £1,279, up 8.9% annually, but there has been a monthly fall of 0.3%, indicating a seasonal cooling in demand after a busy summer period.

Rents fell slightly in all regions, although the East of England, Midlands, South West and Wales still showed increases.

Although demand in the rental market is typically lower in winter, competition remains strong.

Source: Dataloft Poll of Subscribers (October 2023), HomeLet (November 2023)