Foxtons Lettings Market Report
1
Foxtons - Lettings Market
Contact
EMAIL
gareth.atkins@foxtons.co.uk
PHONE
+44 (0)7773 816 498
"Inflation has dipped to its lowest point in two and a half years, with interest rates expected
to follow. This should give buy-to-let landlords the green light going into Q2. Furthermore,
sales stock is now at its highest in eight years, increasing competition among sellers, which
could give pause to landlords who were tempted to sell."
~ Gareth Atkins, Managing Director of Lettings
EMAIL
press@foxtons.co.uk
PHONE
+44 (0)20 7766 1230
March saw the kind of increase in demand you'd expect in the London lettings market this time of
year - not the massive injection of 2023, but a solid 9% rise from the previous month. Going into
the Q2 market, we should see London's companies begin recruiting drives and lettings activity pick
up
prior to the busy period in summer. However, average rent prices are expected to remain broadly
flat in response to affordability pressures, which would enable more renters to secure their homes
in the Capital.
· Applicant demand increased 9% from February, yet as the market followed more typical trends
than in 2023, demand fell 14% year on year.
· According to Zoopla figures surge in new listings on the market has slowed, with a 2% rise in
March.
· March saw 14 new applicants per instruction, with a modest increase of 4% from February.
"With the Base Rate remaining stable and with considerably less volatility across Q1, we
have seen some positive moves in the mortgage market. The 2 largest BTL lenders have
dropped rates, Coventry and Skipton have improved affordability assessments and one of
the largest mutuals has launched a Limited Company BTL proposition."
~ Richard Merrett, Managing Director of Alexander Hall: London's Leading Mortgage Broker
EMAIL
richard.merrett@alexanderhall.co.uk
PHONE
+44 (0)7875 801 000