The lettings market is settling into its early spring rhythm, with activity rising from the quieter winter period and both renters and landlords starting to make their moves. Supply is improving across London and budgets remain steady.
"London's rental market is shifting gears; out of winter's lull and into something steadier. Supply is building, with February’s new listings up 4 percent on last year. Rents are holding firm and applicant budgets are nudging upward as renters prepare for spring moves. The early season is rarely dramatic, but that is its strength. In a market that's building rather than booming, a well-priced, well-presented listing often lets quickly, cleanly and on your terms...”
Gareth Atkins
Managing Director - Lettings
Get the full story in the Lettings Market Report - February 2026
📈 Key numbers from the report
• New listings were 4% higher year on year, reinforcing the gradual recovery in market supply.
• Month on month, rents increased by 1% in February, suggesting steady pricing as the market moves into the spring period.
• New renters per new instruction fell 5% month on month from January to February. While activity is picking up seasonally, rising supply gives renters more choice.
The market so far...
The market is picking up again as we move through early 2026. Demand has lifted from the winter slowdown, although it is still a little softer than last year, and the rise in supply is giving renters more room to choose. Budgets remain steady and achieved rents are edging upward, so pricing is holding its ground even with more supply in play. For landlords, this is the time to plan ahead and make sure everything is ready for the Renters' Rights Act in May.
🎬 Watch: How are landlords preparing for the Renters Rights Act?
Fran Giltinan, Managing Director - Property Management & Customer Experience shares expert insight from the Property Management Team with the Renters' Rights Act imminent:
Ready for take‑off?
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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.
FG: "Spring is always a busy season for Property Management, but right now the level of focus across our team is exceptional. The Renters’ Rights Act is imminent, and landlords are looking for an easy solution to comply with new, more complex legislation. We’ve done the hard work already and our department is fully tuned in to what landlords need from us over the coming weeks. This is what our landlords have come to expect. "We send out surveys after every valuation and this year, 90% of our landlords are really happy with the knowledge of our valuers. Right now, knowledge is key. It’s no longer about the time it takes to cross the t’s and dot the i’s, you need real understanding of the legislation, and that is why we are onboarding new landlords every day. "We are reviewing documentation line by line and tightening compliance across all portfolios. It is detailed work, but it is the kind of work that keeps landlords protected and gives them a smooth run into 1 May. All things considered, it is a smart idea to bring Property Management into your portfolio, and that’s before we even talk about our new partnership with Avios. Right now, you can collect up to 20,000 Avios towards your next holiday when you add Foxtons Property Management to your existing let."
