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The London property market has been a hot topic of late, and April did not disappoint. Although the
metrics we track continued along the same lines - high demand rose higher, supply continued to fall -
there are still some big surprises to report. Rent Achieved grew to a record-breaking £524 per week,
which is the highest we've seen it in over three years. As the imbalance between supply and demand
persists, we expect our metrics to continue intensifying and the market to remain a hot topic heading
into summer - a typically busier season for lettings.
· Rent Achieved increased to a record-breaking £524 in April 2022. This has pushed the
average price in 2022 to £497.
· In April, there were 45% fewer properties to rent year to date compared with last year, and a
13% reduction from the previous month.
· Applicant Demand stayed strong, with 25% more applicant registrations year to date in 2022
than in the same period in 2021.
In April, Applicant Budgets and Renter Spend increased. These pressures may force renters to look
further afield to secure a home, as we see a migration of renters to areas where they can get the most
value for their budget. This is likely to increase the average rental prices in the outer areas
of London.
Foxtons Lettings Market Report
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Foxtons - Lettings Market
Contact
EMAIL
sarah.tonkinson@foxtons.co.uk
PHONE
+44 (0)20 8636 4605