Your trusted update from Plymouth’s local property experts
Plymouth’s rental market is continuing its transition into a more balanced and sustainable phase, with the intense competition of recent years easing. Demand remains steady, supported by the city’s affordability, but tenants now have more choice and are becoming increasingly selective as the market progresses through spring 🌷
🔹 A more settled market – The rental sector is stabilising, with strong underlying demand still in place, but without the urgency that previously drove rapid lettings. This shift is creating a more measured environment for both landlords and tenants.
🔹 Rental growth moderating – Nationally, rents for new lets have risen by around 1.9% over the past year, a noticeable slowdown compared to previous periods. Forecasts suggest growth will remain modest at around 2% through 2026, signalling a return to steadier conditions.
🔹 Supply improving, demand easing – The number of homes available to rent has increased, while tenant demand has fallen to its lowest level in six years. Competition has reduced, with fewer enquiries per property and more time for renters to compare options.
🔹 Tenants becoming more selective – With greater choice, renters are placing more emphasis on value for money, property condition and energy efficiency. This means well-presented, sensibly priced homes continue to perform best.
🔹 Plymouth’s affordability advantage – Average rents in Plymouth remain below both the South West and UK averages, helping to sustain consistent demand from a wide range of tenants, including professionals, families and students.
🔹 Local rental picture – Average rents in the city have reached approximately £982 per month, with continued annual growth. Despite this increase, Plymouth remains a comparatively accessible market, supporting long-term stability.
🔹 Focus shifting for landlords – In today’s market, avoiding void periods is becoming more important than pushing for maximum rent. Realistic pricing and strong presentation are key to securing reliable tenancies.
🔹 Outlook for 2026 – The outlook is stable and sustainable. Rather than sharp rental increases, the market is expected to deliver steady, incremental growth. Landlords who prioritise tenant retention and property quality will be best placed to succeed.
📊 Whether you’re a landlord, tenant or investor, understanding these evolving trends is essential to making confident decisions in today’s rental market.
📖 View the full lettings report here 👇
