Competitive offers – renters offer above asking rents

• The demand supply imbalance in the rental market remains, with 17% of agents reporting that renters often offer above the asking rent, while 44% said that they sometimes do.

• The average UK rent is £1,279, up 8.9% annually, but there has been a monthly fall of 0.3%, indicating a seasonal cooling in demand after a busy summer period.

• Rents fell slightly in all regions, although the East of England, Midlands, South West and Wales still showed increases.

• Although demand in the rental market is typically lower in winter, competition remains strong. Source: Dataloft Poll of Subscribers (October 2023), HomeLet (November 2023)