Landlords are leaving the private rented sector at a record pace, with around 562 properties a day exiting the market so far in the third quarter.
New figures from property data firm TwentyEA show that roughly 44,000 rental properties have left the sector during the period. This compares with around 495 properties a day at the same point last year and just 167 a day at the beginning of the decade.
However, the latest figures tell a more complicated story for the rental market.
Despite the high number of landlord exits, the amount of rental property available to tenants has actually increased by 1.3% over the past year.
Rental Supply Continues to Grow
TwentyEA found that new properties are entering the rental market at a faster rate than properties are being let.
The growth of the build-to-rent sector is also helping to increase the amount of available rental accommodation.
This marks a change after several years of falling rental stock.
However, the increase has not been spread evenly across the market.
Properties advertised between £800 and £1,500 a month have seen available stock rise by 7% over the past year.
Supply in the £1,500 to £3,000 range has fallen by 1.1%. Properties priced above £3,000 a month have seen a larger 6.5% decline.
Of the 13 regions analysed by TwentyEA, 10 recorded an increase in available rental stock.
Wales saw the largest rise at 15.2%. Yorkshire and Inner London recorded the biggest falls, with available stock dropping by 5.3% in both areas.
New Rental Listings Reach Seven-Year High
The number of properties entering the rental market has also increased significantly.
TwentyEA reported that 118,100 more properties have been listed for rent so far this year compared with the same period in 2025.
That represents a 13.6% increase and marks the highest level of new rental supply seen in seven years.
Growth was recorded across every rental price bracket.
Properties priced below £800 a month saw new supply rise by 14.5%. New listings between £800 and £1,500 increased by 16%.
Almost every region also recorded higher levels of new supply.
Wales once again recorded the strongest growth. New rental listings there increased by 26.8%.
Inner London saw the smallest rise, although new supply still increased by 8.8%.
More Tenancies Are Being Agreed
Rental activity has also picked up, although demand is growing more slowly than supply.
The number of agreed lets is currently 3.3% higher than last year. It has also reached its highest level for seven years.
Properties costing less than £800 a month recorded a 5.4% increase in agreed lets.
The £800 to £1,500 bracket saw activity rise by 5.2%.
Wales recorded the strongest regional growth, with agreed lets increasing by 12.3%.
Inner London was the only area to record a notable decline among the regions highlighted, with agreed lets falling by 2%.
Rental Prices Remain Stable
Despite the changes in supply and demand, average agreed rents have remained largely unchanged.
The average rental property now lets for around £1,475 a month. This is only £4 more than a year ago.
The North West recorded the strongest annual rental growth at 5.7%.
The East was the only region where average agreed rents fell, declining by 0.6%.
What Does This Mean for Landlords?
The figures highlight the changing shape of the private rented sector.
Landlord numbers are continuing to fall, with rising regulation and economic pressures making the sector more difficult for some property owners.
At the same time, the amount of rental stock available to tenants is increasing.
Build-to-rent developments are helping to add new homes to the market. Larger professional landlords may also be expanding or reorganising their portfolios.
For letting agents, this creates a mixed picture.
There are fewer traditional landlords operating in the market, but new rental listings are increasing faster than agreed lets. As a result, overall availability has edged upwards.
The latest data suggests that the rental market is becoming increasingly divided. While some landlords are choosing to leave, other forms of rental investment are helping to maintain and expand the supply of homes available to tenants.
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