City of the moment reveals strong lettings market despite rent rises
Summary
Manchester’s rental market remains highly competitive, with properties letting faster even as asking rents continue to rise. The article attributes this to persistent demand outstripping supply, alongside early market effects from the Renters’ Rights Act and a shift toward more professional landlord management.
Why it matters
For residential property surveyors, the article signals continued pressure in a major regional rental market, which can influence valuation assumptions, investor sentiment and local housing dynamics. It also highlights compliance-driven changes that may affect landlord behaviour and the management of rental stock.
Key points
- Average time on market fell to 21 days in Q2 2026 from 24 days a year earlier.
- Average asking rents rose 2.7% to £1,162, while ONS data put average private rents at £1,352 in May 2026.
- Demand continues to exceed supply, with nearly 40% of rentals let within 14 days.
- The Renters’ Rights Act is cited as a new baseline for market behaviour and compliance expectations.
- Landlords may increasingly use professional management and price more cautiously in high-demand areas.
Organisations:
Rentaroof, Office for National Statistics
Regulations:
Renters’ Rights Act
Locations:
Manchester, Didsbury, Ancoats, Chorlton-cum-Hardy
Read the original article
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