UK tenants more of their income on rent in October, despite average rents falling in the month, according to the latest HomeLet Rental Index.
It showed that UK renters spent an average of 32.7% of their income on rent in October, up from 32.1% in September, despite average rents falling 0.9% lower than in September to £1,375. The average rent remained 2.2% higher Year on Year, however.
Outside Greater London, the average rent was £1,164, down 1.0% on the previous month and up 2.3% year on year, with renters spending an average of 31.1% of their income on rent, compared with 30.5% in September.
Carrie Alliston, head of partnerships at HomeLet and Let Alliance, said: “UK renters are spending almost a third of their income on rent – and that proportion is still rising.”
The South East recorded the largest monthly fall in average rent, down 2.7% to £1,432. Scotland followed with a 2.6% fall to £1,026, although it also recorded the strongest annual increase, with rents up 4.8% compared with October 2025.
Greater London remained the most expensive region, with an average rent of £2,260. This was 0.5% lower than in September but 1.9% higher than a year earlier. The North East had the lowest average rent at £727, while the East Midlands was the only region to record an annual fall in rent, down 0.6% to £925.
The highest proportion of income spent on rent was in Northern Ireland at 39.4%, although this was down from 39.7% in September. London followed at 38.9%, up from 37.9% the previous month.
Scotland had the lowest proportion at 26.8%, up from 26.4% in September. The East Midlands was the only region where the proportion remained unchanged month on month, at 28.2%.
This article is taken from Landlord Today