Two years ago, you'd easily have your next renter secured in hours. If you want that sort of speed in today's market, you're going to need a strong strategy.
The March edition of our Lettings Market Report shows why tenants have more options to consider before signing leases. By understanding what renters are looking for and making the right adjustments to your strategy, you can attract premium renters in this evolving landscape – let us show you how.
"For landlords navigating this competitive spring market, these figures present both
opportunity and challenge. You’ll need to act fast to secure premium tenants amid the
growing competition. Now is the optimal time to ensure your listings stand out through
professional photography, competitive pricing and expert salesmanship."
Gareth Atkins
Managing Director - Lettings
See the full story in the Lettings Market Report - March 2025
📈 Key numbers from the report
• Demand: March saw an 11% month-on-month rise in applicant registrations. Year on year,
demand was stable, tracking just 2% below March 2024 levels.
• Supply: March saw a 14% increase in new rental listings across London compared to February, marking the strongest month-on-month uplift so far in 2025.
• Rent achieved: The average rent achieved in March stood at £565 per week, reflecting a 2% increase year on year.
🎬 Watch: What increased supply means for your property
Sarah Tonkinson, Managing Director - Institutional PRS and Build to Rent shares expert insight on what the increase in listings means for your property and strategy:
Don't forget your EICR
"April 2025 marks five years since the Electrical Safety Standards regulations took effect, requiring rental properties to be inspected by qualified technicians. This document is typically valid for 5 years, which means many original EICRs are now due for renewal..."
Fran Giltinan
Managing Director of Property Management
See the full story in the Lettings Market Report - March 2025
Fran shared an important reminder in this month's Lettings Market Report. For many landlords, it's time to renew your EICR to ensure your property is compliant and safe.
If you do not use Foxtons Property Management (who will organise this process for you) you need to know when your EICR is due for renewal and ensure you have a qualified engineer carrying out the checks. Don't forget your EICR!
ST: Right now, we are seeing renters view many more developments before making their decision. They’re comparing everything—from affordability to community and convenience—so your offering must be crystal clear. We’re seeing buildings with fewer amenities leasing quickly because operators can offer lower rents. And lower rents plus the BTR experience is a massive draw.
Meanwhile, competition to reach renters is intensifying. March saw listings jump 14% from February—and yes, that's significantly higher than last year. But the real story is in the trend. Throughout Q1 this year, new listings have consistently outpaced 2022 and 2023. This is an entirely different market dynamic. So the strategies that worked 2-3 years ago won't cut it now.
First and foremost, you’ll need to know how you stack up against your competitors. Particularly with London's cost pressures, affordability has become the make-or-break factor for most renters. A precise, competitive pricing strategy is essential. Your agent should be providing detailed market data to support your strategy.
Source:
• Market data: Foxtons Business Analytics produces our monthly Lettings Market Report, leveraging cutting-edge technology and our exclusive database, one of the largest for London's property market, to provide unparalleled insights for our landlords each month.
• Expert insight: To provide you with the most value, this article features our leading lettings experts. Our team's hands-on experience comes from many years in the industry with London's leading lettings agency, so you can rely on our practical, market-tested insight.
This blend of data-driven analysis and expert commentary offers a comprehensive view of the market, helping landlords navigate any market conditions with confidence. For any questions on the report or insight, ask a Foxtons expert.
