Average UK rents hit £1,293 in May, marking a fourth consecutive month of growth.
Average UK rents rose to £1,293 in May, according to the latest Zoopla Rental Market Report. This marks the fourth consecutive monthly increase, with sharp rises seen in commuter towns and key regional cities.
Cities like Manchester, Birmingham and Slough are driving this surge, while London, although still the most expensive market, is seeing its growth rate cool slightly in comparison.
What’s Driving This?
A combination of tight supply, slow planning approvals and fewer first-time buyers due to interest rate pressure is keeping tenants in the rental sector longer. Many renters who would have considered buying are postponing that leap, which is intensifying demand on the lettings side.
Meanwhile, rental stock isn’t keeping up. New build starts are sluggish, and existing landlords are either holding or offloading properties, with fewer units re-entering the rental pool. This imbalance is now putting upward pressure on rents across much of the UK.
Quantity Surveyor’s Insight: Beneath the Rent Hike
On the surface, rising rents may seem like good news — but here’s where it gets practical.
As a QS, the real conversation starts at cost and feasibility, not headlines. Here’s why:
- Refurbishment expectations are climbing. With rents increasing, tenants expect more. Investors rushing into Rent-to-Rent or light refurb models need to factor in upgraded finishes — not just a coat of white paint and hope.
- Spec drift is a hidden trap. Many landlords overspend chasing a marginal rent increase, only to erode their ROI. Material costs, labour rates and compliance upgrades (like fire doors, insulation or acoustic treatments) can eat into profits quickly if not tracked.
- For developers and sourcers working on BRR or build-to-rent models, overestimating achievable rents during appraisal can lead to disappointing finance terms or refinancing hiccups later. Use real-time comparables and let agents gut-check your assumptions.
“Cost certainty isn’t about pessimism — it’s about building realistic profit into every square metre. Good rents won’t save a badly scoped refurb.”
Final Take
The rent rise is real, but it’s not the full picture. It’s tempting to assume “demand equals easy money,” but the winners in this phase will be those who plan deeper — not just jump in.
If you’re active in the market, now is the time to:
- Review your current rent valuations
- Check refurb cost forecasts
- And challenge assumptions before committing cash to upgrades or deals
Photo by Mike Bird via Pexels