CONTENTS
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Date of publication: April 2021
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Photography cover: Babaroga
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INTRODUCTION
1 Ed Phillips, Chief Sales Offi cer - Lettings
2020 saw thousands leave the Capital, creating a supply/
demand imbalance that created opportunities for renters.
The pandemic saw rent prices fall, but as the economy
recovers, so too will the lettings market.
In the wake of an atypical lettings situation in 2020,
renter demand is returning.
Foxtons' mix of expert people, unrivalled reach and
proprietary technology is what makes us stand out.
DELIVERING EXCEPTIONAL SERVICE
8 LONDONERS ON THE MOVE
2 WHAT NEXT FOR RENTS?
4 LONDON'S LETTINGS MARKET
6
ALL
CHANGEIN THE LONDON LETTINGS MARKET
Throughout this report we attempt to understand and describe the impact Covid-19 and its
associated lockdowns has had on different areas of the city. The report explores the varying
behaviours displayed by different demographics, and it considers to what extent we can expect
these developments to have a lasting impact on London's enduringly dynamic rental market.
As ever, challenges and change catalyse new ways of
thinking and spark waves of innovation.
As rents came under pressure, many of our landlords adapted their service offerings, while
renters took the opportunity to try living in areas of London normally well outside their budget
or secure extra living space, while others altered their living priorities entirely.
The report's creation was made possible due to the
continued logging of key information from our extensive
network of offices across London.
This ability to harness first-hand data has given Foxtons a unique insight into how the Capital
fared during the pandemic era.
We will continue to monitor trends as the year progresses in a bid to better understand
and explain both the short- and long-term impacts of Covid-19 on the housing sector.
ED PHILLIPS
CHIEF SALES
OFFICER - LETTINGS
ZONE 1 RENTS
£439
£552
-20.5%
VVSS
PER WEEK
DISCOUNT
have seen an annual decline
of 20.5% in Q1 2021. This
presents a great opportunity
to rent in a part of London
that renters may not have
previously been able to
afford.
Foxtons
Q1 2021
Q1 2020
London Lettings Report Q1 2021 | Introduction 1