Renter Spend
Average % of Rental Budget Spent
Foxtons - Lettings Market
Average % Renter Budget Spent on Rent Over Time - Foxtons Network
90%
95%
100%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2020 2021 2022 2023
The percentage of rental budgets spent to secure a property fell
for the first time in 2023. Renters spent 99% of their budgets on
average, a 2% decrease from May. This was 3% higher than 2022
year to date.
Although renters in Central London continued to spend the
highest proportions of their budgets to secure a property at 103%,
Central actually saw the largest decrease in renter spend, month on
month.
Average % Renter Budget Spent on Rent by Area
Areas
YTD Last YTD YoY Last Month 2 Months Ago MoM
Central 103% 99% 4% 103% 108% -4%
East 98% 96% 3% 97% 99% -2%
North 99% 95% 4% 98% 100% -2%
South 98% 97% 2% 97% 96% 1%
Surrey 102% 98% 4% 100% 99% 1%
West 97% 96% 2% 96% 98% -2%
Total 100% 97% 3% 99% 102% -2%
60%
33%
8%
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.
3%
-2%
Year-on-year
Month-on-month
2023 vs 2022
June vs May
Category - YTD 2023
8