Introduction: Yorkshire Lettings Market Update
The Yorkshire rental market has entered the second half of 2026 in resilient shape.
Despite the introduction of the Renters’ Rights Act on 1 May 2026, there has been no evidence of the dramatic slowdown that some landlords and tenants had anticipated. Instead, rental values remain elevated, demand for good-quality properties remains strong and the availability of suitable homes continues to be an important factor influencing rents.
The market is certainly more measured than it was during the exceptional rental competition seen in 2022 and 2023. Tenants have more choice in some parts of the market and are becoming increasingly price-conscious.
However, that does not mean that good properties are sitting empty.
For landlords, the message is relatively straightforward: quality, presentation, compliance and realistic pricing remain critical to securing a tenant quickly and achieving the best possible rental return.
Yorkshire rental market at a glance
The latest Office for National Statistics data shows that average private rents across Yorkshire and the Humber reached £862 per month in June 2026, an increase of 4.8% compared with June 2025.
That compares with annual rental growth of:
Wakefield: 5.9%
York: 5.7%
Leeds: 2.9%
North Yorkshire: 1.8%
The regional figures demonstrate an important point: Yorkshire is not one single rental market. Conditions vary considerably between individual towns, cities and property types.
At the same time, Rightmove’s Q2 2026 Rental Trends Tracker reported that average advertised rents outside London reached a new record of £1,397 per month, up 1.9% during the quarter and 2.3% year-on-year.
Rightmove also reported that the number of available rental properties was 1% lower than a year earlier. Although tenant competition has eased from its 2022 peak, the average rental property was still receiving around 10 enquiries.
The evidence therefore points towards a market which has become more balanced, but not one that has suddenly become weak.
Rental stock: quantity matters, but quality matters more
One of the most interesting features of the current market is the distinction between total stock and desirable stock.
There are thousands of properties available to rent across Yorkshire. However, the properties that tenants compete hardest for are typically those which are well presented, correctly priced, in good condition and located in areas where tenants want to live.
Current advertised-market data illustrates the size of the market:
| Area | Properties currently advertised | New listings in last 14 days |
|---|---|---|
| Leeds | 5,828 | 901 |
| York | 892 | 130 |
| Wakefield | 437 | 59 |
| Harrogate | 397 | 65 |
These figures are live asking-market data rather than completed letting statistics, so they should be viewed as a snapshot of available stock rather than a measure of the number of homes actually let.
Nevertheless, they provide a useful indication of the relative size and activity of each local market.
Average rents remain high
Asking rents remain particularly strong in the four markets we operate in.
Current advertised rents are approximately:
| Area | Average asking rent | Median asking rent |
|---|---|---|
| Harrogate | £1,714 pcm | £1,250 pcm |
| York | £1,880 pcm | £1,250 pcm |
| Leeds | £1,764 pcm | £1,150 pcm |
| Wakefield | £1,382 pcm | £895 pcm |
The difference between the average and median figures is significant. This reflects the wide range of property types being advertised, including higher-value houses and larger properties which can pull the average upwards.
For landlords, median rents can therefore sometimes provide a more useful indication of the mainstream market than a headline average.
How quickly are properties letting?
Measuring exactly how long a property takes to let is difficult using portal data because properties can be withdrawn, re-advertised or remain online after an offer has been agreed.
For that reason, we prefer to use time on market as an indicator rather than claiming it represents the exact average letting time.
The current median time on market is approximately:
Harrogate – 59 days
Leeds – 103 days
York – 104 days
Wakefield – 139 days
There is another encouraging indicator. Around a quarter or more of currently advertised properties in Leeds, Wakefield and York have been on the market for less than one month, while Harrogate has an even higher proportion.
This highlights the importance of looking beyond the headline average. Some properties remain advertised for extended periods, while correctly priced and desirable properties can move considerably faster.
Leeds: a large and diverse market
Leeds remains by far the largest of the four markets, with more than 5,800 properties currently advertised.
The ONS records an average private rent of £1,135 per month in June 2026, an annual increase of 2.9%.
That growth is more modest than Wakefield and York, but the sheer scale and diversity of the Leeds market means that averages can disguise substantial differences between individual neighbourhoods and property types.
The current advertised market shows a median asking rent of approximately £1,150, while one-bedroom properties average around £886 and two-bedroom properties around £1,141.
For landlords, Leeds is increasingly a market where property quality and pricing discipline matter. There is plenty of stock overall, so tenants have alternatives. However, well-presented properties at realistic rents continue to have a significant advantage.
Wakefield: strong rental growth
Wakefield is showing some of the strongest rental growth of the four markets.
The ONS recorded an average private rent of £797 in June 2026, up 5.9% compared with the previous year.
Current advertised-market data shows a median asking rent of approximately £895, with 437 properties advertised and 59 new listings during the previous 14 days.
The market also demonstrates the importance of property type. Current advertised rents range from around £696 for one-bedroom properties to more than £1,500 for many four-bedroom and larger homes.
Wakefield therefore remains an attractive market for landlords looking for relatively affordable property combined with strong rental demand.
York: high rents and sustained demand
York remains one of the strongest rental markets in the region in terms of rental values.
The ONS recorded average private rent of £1,186 per month in June 2026, up 5.7% year-on-year.
Current advertised rents are higher, with an average asking rent of around £1,880 and a median of £1,250.
There are currently around 900 properties advertised, but the market contains a significant mixture of property types, including flats, family houses and higher-value properties.
For mainstream rental property, the figures demonstrate why good stock remains highly sought after. A typical two-bedroom property has a current advertised average of around £1,300, while three-bedroom properties average around £1,615.
York continues to combine relatively high rents with strong tenant demand, making accurate rental valuation particularly important for landlords.
Harrogate: smaller market, faster-moving good stock
Harrogate presents a slightly different picture.
The current advertised market contains around 400 properties, considerably fewer than Leeds and York. The median advertised rent is approximately £1,250, while the average is around £1,714.
Most interestingly, the median time on market is currently only around 59 days, considerably shorter than the other three locations.
Harrogate is also a high-value rental market. Rightmove identified Harrogate as one of Yorkshire’s rental hotspots in its previous rental analysis, with average asking rents rising substantially over the previous year.
The current market suggests that tenants remain willing to pay a premium for the right property, but they are also becoming more selective.
For landlords, that makes presentation, condition and pricing particularly important.
What about the Renters’ Rights Act?
The biggest question for many landlords this year has been whether the Renters’ Rights Act would fundamentally change the rental market.
The Act came into force for most private rented tenancies on 1 May 2026, introducing major changes including the end of Section 21, periodic tenancies and restrictions on rental bidding.
However, the early market evidence does not suggest that demand for rental property has disappeared.
Indeed, Rightmove’s Q2 2026 report, its first report covering the market after the Act came into force, found that supply, demand and pricing remained broadly in line with seasonal expectations.
The legislation does change the way landlords need to operate. It makes professional management, compliance and accurate tenant selection more important, rather than making the underlying demand for rental housing disappear.
Our view is therefore that the Renters’ Rights Act is likely to change how landlords manage property, rather than eliminate the fundamental shortage of good-quality rental accommodation.
Our view for the next quarter
Looking ahead, we expect the Yorkshire lettings market to remain relatively strong.
We are not expecting the exceptional rental inflation seen during the immediate post-pandemic period to return. Tenants are more price-sensitive, affordability is becoming increasingly important and landlords cannot simply increase rents indefinitely.
But the underlying fundamentals remain supportive.
Rental stock is still constrained in many parts of the market, rents remain elevated and good-quality properties continue to attract disproportionate interest.
For landlords, we believe the next quarter will be less about simply asking, “What is the highest rent I can achieve?” and more about asking:
What is the highest sustainable rent I can achieve while keeping the property attractive to good tenants and minimising void periods?
That distinction is becoming increasingly important.
A property priced correctly, presented well, fully compliant and marketed effectively should continue to perform strongly.
For landlords across Leeds, Wakefield, York and Harrogate, that is likely to remain the key to maximising rental income through the remainder of 2026.
Appendix: Supporting Charts
