Your October 2026 newsletter

September was a busy month for the Private Rented Sector (PRS). The Government has released more details on the PRS Database, a new report on the size of the PRS has been published, the Ministry of Housing, Communities and Local Government has elected a new chair, and it’s been 30 years since the first Buy-to-let mortgage.

Our data partners have completed their new methodology, and so we’re very pleased to bring you the latest rental market performance below.

Rental market performance

Here’s what happened in the English rental market last month:

The average monthly price for a rental property rose just 1% from in August to September

September’s average rent of £1,581 is up 5% compared to 2025 figures (£1,507)

The base interest rate in the UK remained at 3.75%

Government confirms more details around “Register your rental property” service

The Government has confirmed more details about the new “Register your rental property” service, previously known as the PRS Database, including a launch date and the registration requirements.

The service is due to launch on December 15th, 2026, with a regional rollout over the next 12 months. For landlords, this means that you will need to register at different times depending on where you are in the country.

Under the new rules, landlords of assured or regulated tenancies must register themselves and each of their properties. Registration will cost £65 per property, per year, and failing to register within the required timeframe could result in enforcement action.

The rollout will begin in the West Midlands, where landlords will have until March 14, 2027 to register. London follows from July 15, 2027, with a registration deadline of October 14, 2027. The final deadline for properties in the South West, is November 14, 2027.

What will landlords need to provide?

Landlords should be prepared to share quite a bit of information about their properties, including addresses, type (HMOs, Student Accommodation, etc.), number of residents and rooms, rent and payment frequency, licensing information, and furnished/non-furnished status.

Thankfully, the government has said that we, as your agent, can help you provide some of the relevant information. The government hasn't yet confirmed exactly what information agents will be able to provide. The Government says it will publish specific guidance for letting agents and property managers before launch. It has been made clear, however, that you will remain responsible for completing the final registration.

As always, we’ll be on hand to help you ensure you’re fully compliant with the new database. Please reach out to your managing agent if you’d like to start the process of collecting all your property and compliance information.

PRS changing, but not shrinking, says new report

A new report from the Joseph Rowntree Foundation (JRF) challenges claims that landlords are leaving the Private Rented Sector in large numbers (the so-called “Landlord Exodus”), suggesting the sector is still growing, albeit at a much slower pace than in previous decades.

According to the JRF analysis, the PRS passed five million homes in 2025, adding around 45,000 homes a year on average since 2021. The English Housing Survey also recorded 4.7 million privately renting households in 2024/25, the highest figure recorded.

JRF found evidence of significant changes in the makeup of the landlord market, with the number of individual, unincorporated landlords falling slightly from 2.91 million in 2023/24 to 2.88 million in 2024/25. At the same time, the number of landlords operating through companies has risen, while larger landlords account for an increasing share of the market.

The findings also sit alongside evidence that many landlords remain concerned about the current operating environment. The latest NRLA Landlord Eye survey, for example, found that 26% of responding landlords had sold or were currently selling property because of the Renters’ Rights Act.

For landlords, the takeaway is that while the PRS may not be experiencing the widespread contraction sometimes suggested, the market is changing. Smaller landlords face an increasingly complex regulatory and financial environment, while ownership is gradually becoming more concentrated.

With further rental reforms already in effect, staying up to date with legislation and reviewing each property's costs and compliance requirements will remain important for landlords looking to operate successfully in the changing PRS.

New MHCLG committee chair appointed

Abena Oppong-Asare, Labour MP for Erith and Thamesmead, has been elected to chair the Ministry of Housing, Communities and Local Government (MHCLG) committee with immediate effect, taking over from Florence Eshalomi, who has moved into government as minister for homelessness, democracy, communities and faith. Oppong-Asare will serve as chair until the end of the current Parliament.

The committee scrutinises the work of the government department responsible for housing and local government. Its work can therefore be relevant to landlords as MPs examine issues including housing policy, regulation, local government, and the supply of homes.

Oppong-Asare previously served on the committee between March 2020 and February 2021. She has also held government and opposition roles and was parliamentary private secretary to former prime minister Sir Keir Starmer between July 2024 and September 2025. Before entering Parliament, she was a councillor at Bexley Council.

In her supporting statement for the role, Oppong-Asare highlighted her experience working with mayors, council leaders and communities, as well as previous work with a regulator and a housing company. She said she wanted to lead a committee that was “focused, evidence-led and effective” and would provide strong, independent scrutiny of government.

In other government news

Landlords will also have the Government’s upcoming Autumn Budget on their radar. HM Treasury has confirmed that Chancellor John Healey will deliver the Budget on Wednesday 28 October 2026, when the Government will set out its plans for taxation and public spending.

At this stage, the Government has not confirmed any new landlord-specific tax measures for the Budget, so landlords should be cautious about acting on speculation ahead of the Chancellor’s statement.

30 years of buy-to-let: How the Private Rented Sector has changed

Buy-to-let has reached a major milestone, marking 30 years since the launch of the first dedicated buy-to-let mortgage in September 1996.

When buy-to-let was introduced, it gave landlords access to mortgage finance designed around the economics of residential letting. Since then, the PRS has expanded considerably. Data from Paragon says the number of privately rented households in England has grown from around two million in the mid-1990s to almost five million today.

The past 30 years have included several significant challenges for the sector, from the global financial crisis and subsequent tax and regulatory reforms to the disruption caused by the pandemic and the more recent period of high inflation and rising interest rates.

As we take this look back, our minds are on the future. The Renters’ Rights Act still has two phases to be implemented, and landlords will continue to face scrutiny from tenants and the Government. As your agent, we’ll be here to support you through this period of great change.