As autumn progresses, the London rental market is shifting towards equilibrium. With
an increase in property listings, there's a hint of relief for renters. This seasonal
transition is accompanied by a natural tapering in applicant registrations and firming up of
rental prices at high levels, suggesting stability as we approach the final quarter of the year.
· There has been a 32% month-on-month decrease in renter registrations, reflecting a
typical post-summer adjustment in the market.
· The number of property listings has continued to rise, marking a healthy 12% increase in
new rental instructions year-to-date compared to 2022.
· Despite a slight 1% decrease from September, the average rent achieved in October has
stayed consistent since May.
Foxtons Lettings Market Report
1
Foxtons - Lettings Market
Contact
EMAIL
sarah.tonkinson@foxtons.co.uk
PHONE
+44 (0)20 8636 4605
"In October, London saw its typical decrease in renter registrations, which we've all come to
expect after the summer rush ends and we head into the calmer winter season. At the
same time, we are encouraged that the 12% increase in rental instructions suggests
landlords remain confident in London's unfailing appeal."
~ Gareth Atkins, Managing Director of Lettings
"For the first time since 2019, the London lettings market is seeing regular seasonal trends,
including a Q4 decrease in demand. However, demand still outpaces supply, and
properties are still being let quickly, so long as they're listed at the right price. With our
expertise and data-driven approach to pricing, we help landlords tap into the larger
market - two in every five Foxtons renters choose their new home outside of their initial
search area."
~ Sarah Tonkinson, Managing Director of Institutional PRS and Built to Rent
EMAIL
gareth.atkins@foxtons.co.uk
PHONE
+44 (0)7773 816 498
EMAIL
press@foxtons.co.uk
PHONE
+44 (0)20 7766 1230