Renter Spend
Average % of Rental Budget Spent
Foxtons - Lettings Market
Average % Renter Budget Spent on Rent Over Time - Foxtons Network
92%
94%
96%
98%
100%
102%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2021 2022 2023 2024
Renter spend slightly increased month on month by 2% in August,
but had a small decline year on year. 61% of renters spent over
budget to secure their tenancies so far this year.
Central London continued to be the area where renters went over
budget, specifically 102% over budget year to date. Renter budgets
spent in East London grew by 5%, the highest in London.
Average % Renter Budget Spent on Rent by Area
Areas
YTD Last YTD YoY Last Month 2 Months Ago MoM
Central 102% 102% -0% 102% 100% 2%
East 98% 98% -1% 101% 96% 5%
North 96% 99% -3% 95% 94% 0%
South 97% 98% -0% 97% 97% 0%
Surrey 95% 101% -6% 96% 93% 4%
West 97% 97% 0% 98% 98% -0%
Total 99% 99% -1% 99% 97% 2%
61%
33%
6%
Under Budget Over Budget On Budget
% of Renter Budget Spent by
100% means renters are spending exactly their budget. Anything over 100% means renters
are spending over budget. Under 100% means renters are spending under budget.
-1%
2%
Year-on-year
Month-on-month
2024 vs 2023
August vs July
Category - YTD 2024
8