New figures from the National Landlords Association (NLA) show that tenants are securing a larger proportion of private rented homes in the UK at below, rather than above, advertised rents.

The data shows that 16% of private rented homes are let to tenants at below advertised rents, with 8% of homes being let to tenants at above the asking price. Three-quarters (76%) of private rented homes are let to tenants at the advertised rent.

The difference means that tenants in the UK are benefitting from a net proportion of 8% – or an estimated 320,000 – homes let at below advertised rents.

The NLA’s analysis found that more than a quarter of new tenancies in central London (27%) are agreed at lower than advertised rents, with the North East and outer London close behind (both 22%).

However, just 9% of properties in the East Midlands are let to tenants below the asking price. Yorkshire and the Humber and the South West are close behind on 11%.

At the other end of the scale, more tenancies in outer London are agreed above the advertised rent (12%) than in any other part of the UK. In contrast, just 4% of properties in the East of England are let to tenants above asking price.