The number of homes available to rent across England fell by more than 15,500 in the third quarter, with some areas recording rental stock declines of more than 40%.
New analysis from The Letting Partnership shows that available rental properties fell from 127,696 in Q2 2026 to 112,190 in Q3. This represents a 12.1% reduction over the quarter.
The sharpest decline was recorded in the City of London, where available rental stock dropped by 42.4%. Bristol followed with a 36% fall.
Merseyside saw rental availability fall by 30.5%, while Greater Manchester recorded a 20.5% decline.
Other significant reductions were recorded across Oxfordshire and the West Midlands, both down 19%, while Greater London experienced an 18% quarterly fall.
South Yorkshire recorded a 17.9% reduction, followed by West Yorkshire at 16.9%. Rental stock also fell by 15.7% in Nottinghamshire and 14.7% in both Leicestershire and Tyne and Wear.
Rental Stock Falls After Renters’ Rights Act
The figures come after the Renters’ Rights Act came into force on 1 May, bringing a number of changes to the private rented sector.
Chris Mason, chief executive of The Letting Partnership, said the scale of the decline was notable given how recently the reforms had been introduced.
He said more than 15,500 rental properties had left the market during a single quarter, representing an overall reduction of around 12%, although some locations had experienced much steeper falls.
The figures have also renewed concerns about whether additional regulation and compliance requirements could encourage some landlords to leave the private rented sector.
Mason said the reduction in available properties could add to concerns raised before the reforms were introduced that increased regulatory requirements might discourage landlords from remaining in the market.
Potential Pressure on Rental Supply
The decline in available properties could create further pressure for tenants if fewer homes remain on the market.
The regional differences also show that the impact has not been evenly distributed. While the overall reduction across England was 12.1%, some areas experienced falls of more than twice that level.
The Letting Partnership’s figures provide an early indication of how rental availability has changed since the Renters’ Rights Act came into effect.
For landlords, the figures may add to the debate around the effect of increased regulation on rental supply, while tenants could face greater competition for the properties that remain available.
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