What's changed in how long it takes to find a tenant this year

What's changed in how long it takes to find a tenant this year

The experience of letting a property has changed materially since the peak years of the post-pandemic rental market, and Zoopla's June 2026 Rental Market Report puts the shift in specific terms. In 2022, the average rental home received 15.5 enquiries.

In May 2026, that figure was 5.6. The market is not the same market it was, and the landlords who are adjusting their approach to reflect current conditions are finding tenants more efficiently than those who are not.

What the numbers describe

The fall from 15.5 to 5.6 enquiries per property does not mean demand has evaporated. Competition for rented homes remains well above the levels recorded between 2017 and 2019. What it means is that the frantic, near-instant lettings conditions of 2022 and 2023 have given way to something more measured. Properties that launched in the peak period could expect multiple applications within hours of listing. Today, the same property in a similar location will attract fewer enquiries over a longer period before the right tenant emerges.

The supply position explains why the market is still active despite that easing. Supply remains 20% to 30% below pre-pandemic levels in every region, with a national average of 25% fewer homes available to rent than before the pandemic. That structural shortage is what prevents the enquiry slowdown from translating into empty properties or falling rents. Demand has moderated; supply has not recovered. The two forces in tension are what produce the current picture of a market that is neither frenetic nor difficult but requires more deliberate management than it did two or three years ago.

Where the variation is sharpest

The national average of 5.6 enquiries per property conceals a significant range of local conditions. London stands out as the only region where rental demand has increased rather than eased, up 6% in the four weeks to the end of May 2026. Higher mortgage rates have had their greatest impact on first-time buyers in London, where deposits and required income levels are highest, keeping more people in the rental market for longer than they intended. Rental inflation in the capital has consequently risen to 2.2%, up from 1.9% a year ago.

Elsewhere, conditions vary considerably. Areas where the average rent is below £750 per month are experiencing annual rental growth of nearly 5%, well above the national average of 2.1%. Areas where the average rent exceeds £1,250 per month are growing at or below the national average, with high existing rent levels limiting how much further rents can rise before affordability becomes a genuine barrier.

What this means for how landlords should approach a letting

In a market where enquiry volumes are lower and tenants are taking longer to decide, the factors that once did the work almost automatically now require deliberate attention. Accurate pricing relative to current local comparables is the most direct influence a landlord has over time to let. The national average of 2.1% rental growth understates what most renters experience when moving, because rental growth varies so significantly by location. Setting a rent that reflects what local equivalents are achieving now, rather than what was achievable six months ago, is the starting point for attracting interest efficiently.

Presentation and marketing also carry more weight when tenants have genuine alternatives to compare. A well-photographed listing, a clear and accurate description, and flexible viewing availability reduces the friction between enquiry and application.

Rental inflation is expected to run at 2% to 3% across the remainder of 2026, with earnings continuing to outpace rents for the third consecutive year, gradually improving affordability. The market is in a period of adjustment rather than difficulty, and landlords who read the current conditions clearly are well placed within it.

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