England’s rental market cooled further in November, with average rents down 3% during the month and the pace of year-on-year increases falling to a new annual low.

One area of Britain has seen average rents increase by just over 30% in the last year alone.

With 26 million spare rooms in the UK, flatshare website SpaeRoom argues that if just 1% of them were rented to lodgers, the average rent could be reversed by 7 years.

UK Finance stats show there were 13,000 buy-to-let mortgages in arrears of 2.5% or more of the outstanding balance in Q3 - up from 11,540 a year ago.

Confidence in the UK Housing Market remains high as consumers report feeling more positive about their ability to afford rent or mortgage payments despite rising costs.

Void averages also rolled back to their pre-summer levels as the scramble for properties cooled.

Signs that the market is beginning to stabilise are growing stronger as new data from SpareRoom highlights that rents are continuing to ease in the capital.

It is estimated that over the last year, the cost of renting across Britain increased by an average of £8 every month.

Average rents rose by 4% in the UK during Q3 - the smallest year-on-year increase of 2024.

Average advertised rent for new properties coming to the market has hit a new quarterly record, according to Rightmove's latest market analysis.