Applicant Budgets
Foxtons - Lettings Market
Applicant budgets remained higher than previous years. We
recorded a 6% year-on-year increase in prospective tenants
budgets. There was only a slight 1% dip from September
to October, indicating a month-on-month steadiness in what
renters are willing to pay.
Central London stood at the forefront of this trend, with the
average rental budget reaching £580, retaining its position as the
area with the highest rental expectations in the city.
Average Renter Budget Over Time - Foxtons Network
£400
£420
£440
£460
£480
£500
£520
£540
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2020 2021 2022 2023
Renter Budgets by Area
Areas
YTD Last YTD YoY
Central £580 £553 5%
East £532 £489 9%
North £534 £487 10%
South £480 £466 3%
Surrey £430 £417 3%
West £477 £429 11%
Total £517 £485 6%
1 2
Studio
£490
6%
1 bed
£448
7%
2 bed
£538
7%
3 3 bed
£635
6%
6%
-1%
Year to Date
YoY
Year-on-year
Month-on-month
2023 vs 2022
October vs September
5