Foxtons Lettings Market Report
1
Foxtons - Lettings Market
Contact
EMAIL
sarah.tonkinson@foxtons.co.uk
PHONE
+44 (0)7773 816 247
"The market is making its usual transition into the quieter months. As we head into
Q4 demand typically eases. However, this doesn't mean you should face extended voids.
At Foxtons, we have the scale, technology, and expertise to rent units quickly. Our teams
are currently working hand-in-hand with Build to Rent operators to secure longer, more
stable tenancies. By focusing on extended lease agreements, we can help ensure
properties stay occupied, avoiding the need to search for new tenants during the slower
winter period, maximizing your returns."
~ Sarah Tonkinson, Managing Director of Institutional PRS and Build 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
September signals the close of a highly active season for the London lettings market. Applicant
demand has slowed, as expected. However, the year-to-date performance remains robust, with
certain areas such as Central London continuing to show strength, particularly in new renters per
instruction. New listings rose in September, compared to the same month in 2023, highlighting
opportunities for renters. While rents achieved saw a modest increase month-on-month, they now
stand significantly higher than the year-to-date average.
· This September, new market listings increased 12% from September 2023.
· Rent achieved saw a slight increase of 2% month-on-month with it now sitting at £594 in
September.
· Applicant demand decreased 35% month-on-month from August, aligning with the typical
seasonal dip.
"As the rental market begins to stabilize ahead of the winter months, strategic pricing that
takes in all the factors of your local market becomes increasingly important. For instance,
while overall demand in London experienced a seasonal decline this September, Central
London saw a 12% increase in applicants per new instruction. It's essential to strike the right
balance between market conditions, tenancy timelines and local property values. By
leveraging our extensive data analysis, we can accurately determine the optimal rental
price, stimulate interest and ultimately achieve the best possible outcome for your
property."
~ Gareth Atkins, Managing Director of Lettings