Everyone wanted to know what the Renters' Rights Act would do to the London rental market. May was the first full month with it in force, and the honest answer is: not much. Applicant demand climbed sharply into the summer season, supply stayed ahead of last year, and pricing held firm throughout.
"A month in, the Renters' Rights Act has left the London market largely unchanged. It is very much business as usual. Tenants saw a slight increase in available stock, with some additional movement driven by the initial impact of the new legislation, but within a couple of weeks the market settled back into its normal rhythm. Demand remains steady and pricing stable, with renters focusing on finding the right property rather than chasing discounts..."
Gareth Atkins
Managing Director - Lettings
Get the full story in the Lettings Market Report - January 2026
📈 Key rental market numbers from the May 2026 report
• Applicant demand strengthened into the peak summer period, with renter registrations rising 13.7% month on month.
• Supply continued to improve, with market new listings up 3.0% year on year and 5.7% month on month.
• Renters continued to spend 99% of their budgets on rent, highlighting stable affordability conditions across the market.
See Foxtons Lettings Market Reports
🎬 Watch: What the Renters' Rights Act means for landlords one month in
Fran Giltinan, Managing Director - Property Management & Customer Experience shares what landlords should be getting right as the new legislation beds in:
The 2026 London rental market outlook so far...
The season's momentum carried on undeterred. Applicant demand climbed sharply month on month while supply held ahead of last year, and renter budgets and rent achieved barely moved year on year. A market this new absorbing this much activity without straining affordability is a sign of real underlying strength. Renters are active and supply is growing, with pricing holding firm. Every indicator points to an early summer market behaving as it always has, which almost no one anticipated in month one under the new rules.
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