Foxtons Lettings Market Report
1
Foxtons - Lettings Market
Contact
EMAIL
gareth.atkins@foxtons.co.uk
PHONE
+44 (0)7773 816 498
EMAIL
press@foxtons.co.uk
PHONE
+44 (0)20 7766 1230
EMAIL
fran.giltinan@foxtons.co.uk
PHONE
+44 (0)20 7893 6227
"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
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.
"Changing seasons bring a surge in maintenance demands, with boiler repairs topping the
list of time-sensitive issues. Swift action isn't just about fixing problems, it's about protecting
your investment and preserving crucial tenant relationships. For example - our recent
investment in training and tech means Foxtons Property Management are resolving
maintenance issues 25% faster than last year, with nearly 100% addressed within 24 hours.
The result? We're meeting tenants' increasing expectations, and our landlords can relax this
Christmas knowing their assets are well-maintained. As the property management
landscape evolves, staying ahead of maintenance demands isn't just good service, it's
smart business."
~ Fran Giltinan, Managing Director of Property Management & Customer Experience