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 budget that renters spend to secure a
property has increased for the first time in three months, taking the
overall average to 102%.
Renters in Central London spent 108% of their registered budget in
May 2023, a 7% increase compared to April 2023.
Average % Renter Budget Spent on Rent by Area
Areas
YTD Last YTD YoY Last Month 2 Months Ago MoM
Central 103% 99% 4% 108% 101% 7%
East 98% 96% 3% 99% 98% 0%
North 100% 96% 4% 100% 101% -1%
South 98% 96% 2% 97% 98% -1%
Surrey 102% 98% 4% 99% 103% -4%
West 98% 96% 1% 97% 99% -2%
Total 100% 97% 3% 102% 100% 2%
59%
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
May vs April
Category - YTD 2023
8