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
There was a 2% increase in the proportion of their budgets that
renters dedicated to rent compared to last year. In October, renters
spent 100% of their budget, which also marked a 1% increase from
September's figures.
North London saw 5% growth in spend compared to September.
Renters used 99% of their budget, which was a 3% increase year
on year when looking at the year to date. This pattern suggests a
tightening market where renters are matching their budget to
market rates more closely.
Average % Renter Budget Spent on Rent by Area
Areas
YTD Last YTD YoY Last Month 2 Months Ago MoM
Central 102% 99% 2% 101% 100% 1%
East 98% 97% 1% 99% 98% 1%
North 99% 96% 3% 103% 98% 5%
South 98% 98% 0% 99% 98% 2%
Surrey 102% 99% 3% 117% 99% 18%
West 98% 96% 2% 99% 100% -1%
Total 99% 98% 2% 100% 99% 1%
59%
34%
7%
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.
2%
1%
Year-on-year
Month-on-month
2023 vs 2022
October vs September
Category - YTD 2023
8