Foxtons Lettings Market Report
1
Foxtons - Lettings Market
Contact
EMAIL
gareth.atkins@foxtons.co.uk
PHONE
+44 (0)7773 816 498
"The peak lettings season has begun in earnest; our data shows renter demand rose 15%
in June. Demand is in line with last year's numbers so far, and it should continue to
push upwards through the coming months. This means the market will be fast-paced, so
you will need to be prepared and agile to achieve the best results. Partnering with an
experienced lettings team can help you to reach high-quality tenants efficiently."
~ Gareth Atkins, Managing Director of Lettings
EMAIL
press@foxtons.co.uk
PHONE
+44 (0)20 7766 1230
Across London, activity has begun to pick up in the summer market. However, on closer
examination, we can see significant nuance in the local dynamics. Central London is experiencing a
more balanced market, while other regions exhibit larger variations in key metrics. West London,
for instance, has seen a substantial increase in supply alongside a decline in rental registrations.
Every patch of the London market has a complex relationship between supply, demand and
budget, underscoring the importance of local market insight.
- There was a slight 4% reduction in listings from May to June, although the number of new
instructions to the market was still over 30,000 in June.
- Applicant demand has risen by 15% month-on-month as the peak lettings season begins.
- Average rent achieved remains stable on a month-on-month basis with no significant
change from May 2024.
"Landlords across the capital have been mindful of incoming legislation and how it will
affect their rentals. However, our recent research with feedback from over 1,000 London
Landlords has suggested that the majority of Foxtons clients will not be altering their
approach to investing in, owning and renting their properties. This should also be seen as
most welcome from the point of view of tenants too in that it is unlikely that landlords will
be unnecessarily leaving the market."
~ Fran Giltinan, Managing Director - Property Management & Customer Experience
EMAIL
fran.giltinan@foxtons.co.uk
PHONE
+44 (0)20 7893 6227