THE PROPERTY FILTER TAKE
Propertymark's rental tracker shows rents rose in eight of eleven regions between September and October 2026, after falls in most regions in September.
What your tenants are thinking: in London, the salary needed to pass referencing on the average rent is now £69,660, so affordability still sets the ceiling on your rent.
Consider pricing renewals and new lets on your own local evidence and the year-on-year trend, rather than on one month's swing.
Rents rose in eight of eleven regions between September and October 2026, according to Propertymark's rental tracker. In September, rents had fallen in most regions. Mortgage Introducer reported the October figures on 10 November 2026.
The tracker measures two things: average agreed rents, and the annual salary referencing agencies (the firms that check whether a tenant can afford a home) require to approve a tenancy. Both sides of the tenancy are in it. For landlords it is a rent guide. For your tenants it is the income bar they must clear.
Where did rents fall in October?
Scotland, London and the North West were the only regions where monthly rents fell, according to Mortgage Introducer's report of the October data. London dropped 3.9% to £2,322. Scotland fell 3.5% to £1,094, and the North West slipped 2.7% to £1,079.
Two regions moved sharply the other way. Wales rose 31.1%, from £995 to £1,304, and the North East jumped 29.8%, from £872 to £1,132. Mortgage Introducer cautions that swings of that size in one month typically reflect sample size volatility rather than a structural shift. So treat those two figures with care.
On income, the salary needed to rent in London is £69,660. Yorkshire and Humberside sits at the other end at £29,130. Eight regions now require a higher salary to pass referencing than in October 2025, Mortgage Introducer reported.
What did September's figures show?
September was the month of falls. Rents fell across most of England and Scotland, Mortgage Introducer reported from Propertymark's September 2026 Rental Price and Average Salary Tracker. Scotland recorded the largest monthly fall at 3.4%, bringing its average rent to £1,134. The North West followed at 2.5%, to £1,109.
London and the South West both dropped 2.1%, to £2,415 and £1,256 respectively, according to PropertyWire (12 October 2026). The two reports differ on how many regions fell, so I have left the regional count out.
The tracker sets the salary figure at 30 times the monthly rent. In September that meant £72,450 a year in London and £26,160 in the North East, the region with the lowest average rent (Mortgage Introducer). Kim Lidbury, president of ARLA Propertymark, put it plainly: "A monthly fall in rents does not necessarily mean renting has become more affordable."
What does this mean for landlords and tenants?
In practice, the two months together point to a market without one direction. Mortgage Introducer's October report says there is no clear or consistent direction of travel across the country. That makes one month a weak basis for a rent review.
For landlords, the salary bar is the number to watch. A rent your tenants cannot reference for is a void risk (the chance of a period with no rent coming in). Our free stress test calculator shows whether a lower achievable rent still covers a lender's rental cover test. That test sets how far the rent must exceed the mortgage interest at the lender's stressed rate.
For tenants, the picture is mixed. A London renter needed £69,660 in October to pass referencing, against £29,130 in Yorkshire and Humberside. Letting to tenants on Housing Benefit? Our free LHA rates map shows the Local Housing Allowance by postcode. That is the rate used to work out Housing Benefit for private renters.
Lidbury said improving affordability will need "a sustained focus on increasing the supply of good-quality rental homes" (Mortgage Introducer, October report). Our property investment strategies hub covers how to weigh rent, demand and yield across regions.
Key takeaways
Rents rose in eight of eleven regions between September and October 2026, according to Propertymark's tracker (Mortgage Introducer, 10 November 2026).
Scotland, London and the North West were the only October fallers: London down 3.9% to £2,322, Scotland down 3.5% to £1,094.
In September, Scotland recorded the largest monthly fall at 3.4%, bringing its average rent to £1,134.
The salary needed to pass referencing in London was £69,660 in October, against £29,130 in Yorkshire and Humberside.
Wales (up 31.1%) and the North East (up 29.8%) swung sharply in October, which Mortgage Introducer links to sample size volatility.
Frequently asked questions
Are rents falling?
How much do you need to earn to rent in London?
How does Propertymark calculate the salary needed to rent?
Which regions saw rents fall in October 2026?
