"The rental market is still proving to be highly competitive in certain areas, with some tenants having to make extremely fast decisions"
- Jason Tebb - OnTheMarket
Prospective tenants in Aldershot have less time to secure a home than anywhere else in the country, according to newly released data from OnTheMarket, as properties are snapped up on average within 16 days of being advertised (between Dec 2024 – Feb 2025).
However, over the same period a year ago, Mansfield tenants had only 12 days in which to do the same. Indeed, all of the top five rental hotspots a year ago – Mansfield, Crawley, Cambridge, Derby and Luton – took 16 days or less to find a tenant. This time around, the top five took longer than that, with Mansfield taking 17 days, Crawley (18 days), Worthing (21 days) and Basildon (22 days).
Fastest rental markets
1: Aldershot - 16 days average transaction time
2: Mansfield - 17 days
3: Crawley - 18 days
4: Worthing - 21 days
5: Basildon - 22 days
At the other end of the table, Liverpool’s tenants have a much more leisurely 40 days to make up their minds. In Oxford, Nottingham and Sheffield, they took 38 days, and 37 days in Newcastle upon Tyne.
Slowest rental markets
1: Liverpool - 40 days average transaction time
2: Oxford - 38 days
3: Nottingham - 38 days
4: Sheffield - 38 days
5: Newcastle upon Tyne - 37 days
In London, Bexley is the quickest place to secure a rental property, taking an average of 20 days to rent, the fastest across the city. It was also top of the London table last year, taking 19 days for a property to let.
Fastest London borough rental markets
1: Bexley - 20 days average transaction time
2: Merton - 22 days
3: Wandsworth - 22 days
4: Waltham Forest - 23 days
5: Islington - 23 days
Meanwhile, at the other end of the scale, the slowest London borough for lettings was Kensington & Chelsea, where it takes 37 days, or nearly twice as long as in Bexley, to rent a property. This was also the case last year, where Kensington & Chelsea was the slowest London borough. City of Westminster (34 days), Barnet (33 days), and Hounslow and Harrow (both 32 days) complete the slowest five boroughs. Last year, the respective times were 36, 31, 29, 29 and 28 days, suggesting pressure on tenants may be easing.
Slowest London borough rental markets
1: Kensington and Chelsea - 37 days average transaction time
2: City of Westminster - 34 days
3: Barnet - 33 days
4: Hounslow - 32 days
5: Harrow - 32 days
“The rental market is still proving to be highly competitive in certain areas, with some tenants having to make extremely fast decisions," explained Jason Tebb, president of OnTheMarket.
However, he added, "Some local markets are much ‘hotter’ than others, underlining the importance of really understanding the market you are trying to rent in. An experienced local agent will be able to help with that knowledge, assisting you with your strategy and ensuring you don’t miss out.
“Tenants would do well to get to know their local agents and get them on side, particularly in fast-moving rental markets. This should get you to the front of the queue when a suitable property becomes available.”
