Low
High
New Renters per New Instruction
Foxtons - Lettings Market
With a larger number of new instructions entering the
market so far in 2024, there was a 21% reduction in new renters per
instruction, despite the increase in applicant demand.
On the cusp of peak lettings season, we found a 5% increase month
on month in May, with East London increasing 26% month on month.
New Renters per New Rental Instruction Over Time - Foxtons Network
0
5
10
15
20
25
30
35
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2021 2022 2023 2024
New Renters per New Rental Instruction by Foxtons Office Area - YTD
-21%
5%
New Renters per New Instruction by Area
Areas
YTD Last YTD YoY
Central 10 10 -6%
East 16 19 -19%
North 15 18 -17%
South 18 25 -27%
Surrey 11 15 -30%
West 17 27 -36%
Total 14 18 -21%
New Renters per New Instruction by Area
Areas
Last Month 2 Months Ago MoM
Central 11 10 13%
East 19 15 26%
North 17 15 17%
South 17 19 -13%
Surrey 11 11 -5%
West 16 17 -7%
Total 15 14 5%
Year-on-year
Month-on-month
2024 vs 2023
May vs April
4