Key Figures

Summary

January 2026 saw a clear uplift in London’s lettings market as activity rebounded from the December slowdown. Applicant demand rose 93% month‑on‑month, though it remained 16% below January 2025, indicating a steady but improving return to market activity. Stock levels also strengthened, with new listings up 13% MoM and 6% YoY, reflecting more landlords re‑engaging with the market and providing renters with greater choice. Average weekly rents increased to £566, a 5% monthly and 2% annual rise supported by renewed corporate enquiries and higher applicant volumes. Renter budgets held stable at £539 per week (+2% MoM), with tenants continuing to spend close to 99% of their available budget. Although year‑on‑year competition eased, the 11% MoM uplift in new renters per instruction highlights a more balanced and steadily strengthening market as 2026 begins.

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For the full Foxtons January Lettings Market Report 2026 click here.

Key Figures

Summary

January 2025 opened the year with strong momentum, as applicant demand surged 83% from December, signalling an active start to the rental season even as year‑on‑year demand remained slightly lower. Landlord activity followed suit, with new listings increasing 51% month‑on‑month and giving renters a broader selection of homes across London. This renewed supply has helped stabilise competition and support balanced conditions across most regions.

Renter budgets strengthened meaningfully, reaching £535 per week, up 3% compared with both January 2024 and December 2024 reflecting sustained confidence and rising expectations for quality accommodation. Achieved rents increased to £555 per week, a 2% annual uplift, with Central and South London leading growth. As the market reset for 2025, Foxtons data‑led pricing advice and broad applicant reach have positioned landlords to capture renewed demand and secure high‑quality tenants in a more predictable, well‑supplied environment.

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For the full Foxtons January Lettings Market Report 2025 click here.

Key Figures

Summary

February 2025 reflected a stable and well‑balanced lettings landscape across London, with applicant demand closely mirroring last year’s levels. Central London saw notable growth, with a 12% uplift in enquiries compared with February 2024 reinforcing the continued draw of core areas for renters seeking convenience and quality. Competition remained strong but manageable, with an average of 13 applicants per instruction, in line with January’s figures, demonstrating a more structured and less frenetic market compared with previous years.

Renter budgets continued to trend upward, reaching £535 per week, a 3% year‑on‑year rise, with South London leading the way with a 4% increase. Achieved rents held firm at £557, supported by sustained demand for well‑presented homes. With supply remaining close to 2024’s elevated levels, Foxtons wide market exposure and expert pricing remain key differentiators for landlords navigating a more discerning, choice‑driven renter base in early 2025.

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For the full Foxtons February Lettings Market Report 2025 click here.

Key Figures

Summary

March 2025 delivered a strong and reassuring month for the London lettings market, with applicant demand rising 11% from February and tracking only 2% below last year’s levels. This spring uplift was matched by a surge in supply, as new rental listings increased 14% month‑on‑month, the biggest rise so far in 2025. The increase in available homes helped ease competition, giving renters more choice while maintaining positive outcomes for landlords supported by Foxtons extensive reach and marketing strength.

Renter budgets rose again, reaching £537 per week, up 3% YoY, demonstrating sustained confidence and willingness to pay for high‑quality, well‑located properties. Achieved rents remained steady at £565 per week, ending 2% higher than March 2024. Overall, March showcased a healthy, well‑balanced market heading into the peak spring season, one where Foxtons’ proactive pricing guidance and market coverage continue to help landlords stand out in a competitive environment.

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For the full Foxtons March Lettings Market Report 2025 click here.

Key Figures

Summary

April 2025 reflected a more measured lettings environment, with applicant demand easing 3% month‑on‑month, an unusual shift for this stage of the spring market. Despite softer demand, landlord confidence remained strong, with new instructions increasing 5% MoM and contributing to a 9% year‑to‑date uplift. This growth in supply helped reintroduce balance to the market, particularly in areas previously marked by heightened competition.

Renter budgets strengthened to £540 per week, up 3% annually, showing solid commitment to securing well‑presented and professionally managed homes. Meanwhile, achieved rents rose to £589 per week, a 3% uplift on 2024 levels, underpinned by stable and reliable demand. As the market continued to rebalance from the peaks of recent years, Foxtons broad exposure, market intelligence and expert pricing guidance played a key role in helping landlords navigate a more nuanced and opportunity‑rich environment ahead of the summer season.

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For the full Foxtons April Lettings Market Report 2025 click here

Key Figures

Summary

May 2025 delivered a strong and confidence‑building month for London’s lettings market, with applicant demand bouncing back sharply, up 35% month‑on‑month, after April’s softer activity. The rise in demand coincided with continued supply growth, as new listings increased 9% MoM and sustained the positive momentum seen in March and April. This combination of rising demand and expanding stock helped create healthier market balance, offering more choice for renters while supporting robust landlord outcomes.

Renter budgets continued to strengthen, reaching £544 per week, up 3% annually, with budget growth particularly notable in West, South and Surrey. Achieved rents remained stable at £589 per week, contributing to a 3% year‑to‑date rise and reinforcing the resilience of rental values in 2025. With market activity accelerating ahead of the summer season, Foxtons’ wide‑reaching network and data‑driven pricing continue to position landlords strongly as competition for high‑quality homes increases.

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For the full Foxtons May Lettings Market Report 2025 click here

Key Figures

Summary

June 2025 marked one of the most balanced and encouraging months of the year for London’s lettings market. Applicant demand increased 21% from May, reflecting renewed renter confidence and strong seasonal momentum as the summer market began. Supply reached a four‑year high, with nearly 45,000 new listings recorded an 18% monthly jump as landlords acted early to position their properties for peak season activity. This improved stock profile has supported healthier choice for renters while helping reduce competitive pressures across much of the capital.

Renter budgets remained steady and resilient at £548 per week, up 2% on last year, showing sustained appetite for quality properties. Achieved rents continued their upward trajectory, rising 1% MoM and ending 3% higher YoY at £593 per week. With strong applicant volumes, improved supply and steady rental values, Foxtons network is operating in a market that is more stable, more predictable, and well‑positioned for continued activity as the summer progresses.

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For the full Foxtons June Lettings Market Report 2025 click here

Key Figures

Summary

July 2025 delivered one of the strongest lettings months in recent years, showcasing a market operating at full seasonal capacity. Applicant demand climbed sharply, rising 23% from June as corporate relocations, student movement and summer family moves intensified competition across London. With 18.5 applicants per available property, market competitiveness returned to levels characteristic of the seasonal peak, especially in Central and North London where demand remained particularly resilient.

Supply also strengthened meaningfully, with almost 50,000 new rental listings, the highest monthly volume in four years, contributing to a more balanced yet highly active market. Renter budgets rose modestly to £554 per week, the highest in four years, while achieved rents continued to edge upward, reaching £605 per week. The West, South and East regions drove the strongest gains, supported by consistently high demand and improving affordability.

With the Renters Rights Bill progressing toward Royal Assent and expected to commence in the first half of 2026, Foxtons expert Property Management and Lettings teams are actively preparing landlords for upcoming regulatory changes. July’s data reflects a confident, well‑supplied and competitively priced rental landscape one where informed strategy and proactive preparation are key to maximising returns during the height of the lettings season.

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For the full Foxtons July Lettings Market Report 2025 click here

Key Figures

Summary

August 2025 delivered the expected seasonal slowdown in London’s lettings market, with applicant demand easing 11% month‑on‑month as summer activity cooled. Despite this, the market remained resilient, underpinned by strong supply levels and a steady flow of committed renters. New renters per instruction rose 10.6% MoM, indicating healthy competition even as both listings and applicant numbers moderated in line with seasonal patterns.

Throughout 2025, Foxtons has continued to drive strong landlord engagement, helping deliver an 11% annual increase in new listings, a trend that has improved choice for renters and supported greater balance across the market. Renter budgets remained robust at £555 per week, up 2% YoY, highlighting sustained demand for high‑quality, well‑managed homes. Achieved rents eased back 5% from July’s peak but still ended the month 3% higher year‑on‑year, showcasing the enduring strength of London’s rental values and the continued market confidence Foxtons helps to support.

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For the full Foxtons August Lettings Market Report 2025 click here

Key Figures

Summary

September 2025 aligned closely with seasonal patterns, with applicant demand easing 32% month‑on‑month as summer activity tapered and renters settled into the autumn cycle. Despite this slowdown, the London lettings market remained fundamentally strong, supported by sustained underlying demand and consistently rising supply. Competition softened further, with new renters per instruction down nearly 39% MoM, reflecting a market where improved stock levels are giving tenants more choice and landlords more motivated applicants.

Foxtons continued to see robust landlord engagement, driving an 11% year‑on‑year increase in new listings across London. Renter budgets remained healthy at £556 per week, up 2% annually, demonstrating strong affordability and interest in well‑presented homes. Achieved rents performed exceptionally well, rising 3% MoM to £586 the highest September level in four years, underscoring the market’s resilience and the value Foxtons delivers in pricing, positioning and presenting rental properties effectively.

Full report

For the full Foxtons September Lettings Market Report 2025 click here

Key Figures

Summary

October 2025 delivered the familiar seasonal slowdown in demand, with applicant registrations easing 33% month‑on‑month and sitting 7% below 2024 levels. Despite this, the London market remained resilient, supported by steady underlying demand and year‑on‑year growth across key indicators. Competition softened meaningfully as new renters per instruction fell nearly 29% MoM, reflecting a market that is gradually rebalancing as supply improves.

Landlord activity continued to be a defining feature of 2025, with new listings up 10% year‑on‑year, a trend Foxtons network has consistently helped drive through strong instruction performance. Renter budgets held firm at £554 per week, up 2% annually, demonstrating that well‑priced and well‑presented homes continue to perform. While achieved rents dipped 3% month‑on‑month in line with seasonal norms, they remained 2% higher than in 2024, underscoring the ongoing strength of London’s rental values. Overall, October highlighted a more balanced, opportunity‑rich market for landlords as we move toward 2026.

Full report

For the full Foxtons October Lettings Market Report 2025 click here.

Key Figures

Summary

December 2025 reflected the expected seasonal slowdown in London’s lettings market, with applicant demand falling 22% month‑on‑month and sitting 8% below 2024’s levels. Even so, certain regions held up more strongly, particularly Central London where annual demand dipped by just 2%, compared with larger declines across South and West London. Competition eased considerably across the year, with new renters per instruction down 27.4% YoY, although December did see an 11% uplift month‑on‑month as activity began to stabilise. Landlord activity strengthened, with new listings up 6% MoM and 8% YoY, helping reduce competitiveness and widen choice for renters. Average renter budgets ended the year at £553 per week, a 2% YoY increase though slightly softer than in November. Achieved rents followed a similar trajectory: £580 per week for 2025 overall (a 2% annual rise), but 3% lower month‑on‑month as December’s slower pace temporarily moderated pricing. Overall, 2025 closed with improved supply, steadier budgets and a more balanced rental environment heading into 2026.

Full report

For the full Foxtons December Lettings Market Report 2025 click here.

Key Figures

Summary

January 2024 marked the beginning of a more normalised London rental market, with strong seasonal demand up 93% month‑on‑month but more measured year‑on‑year activity following the exceptional conditions of 2022 and 2023. Compared with January 2019, widely regarded as the last “traditional” rental year, applicant demand remained significantly elevated at +71%, underscoring London’s continued long‑term rental strength.

Supply increased substantially, with new instructions rising 25% YoY as more landlords entered or re‑entered the market. This easing of stock pressure reduced the intensity of competition, with new renters per instruction falling 26% YoY, though levels were still strong relative to historic norms. Renter budgets increased to £517/week, driven particularly by growth in West London and Surrey, while achieved rents softened slightly to £544/week as supply improved. With more stock and stabilising conditions, Foxtons pricing strategies and market insight were crucial in helping landlords secure tenants efficiently while protecting yields in an increasingly rational market.

Full report

For the full Foxtons January Lettings Market Report 2024 click here.

Key Figures

Summary

February 2024 reflected a more balanced and stabilising lettings market across London. Applicant demand declined 15% year‑on‑year as conditions continued to normalise following the intense competition of 2022–2023. At the same time, rental supply strengthened significantly, with new instructions rising 20% YoY, helping rebalance the market and provide renters with more options.

Despite lower demand, rents remained robust, with average rent achieved rising 3% month‑on‑month to £561/week. Competition eased noticeably, with new renters per instruction down 29% compared with 2023 but still at healthy levels when placed in a longer‑term historical context. Renter budgets remained strong at £518/week, up 3% annually, with Central London continuing to command the highest budgets. Overall, landlords operating with competitive pricing and proactive marketing were best placed to secure high‑quality tenants in a more strategic, data‑driven rental landscape.

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Key Figures

Summary

March 2024 signalled the first meaningful uplift in rental activity as the spring market took hold, with demand rising 9% month‑on‑month after a quieter start to the year. Although annual demand remained lower than in 2023, which saw unusually high early‑year activity, the market tracked far more typical seasonal patterns. South London led the city in demand, recording nearly 17,000 applicants, highlighting growing interest in value‑driven areas.

Renter budgets continued to rise, averaging £519 per week, a 3% annual increase with notable strength in Surrey and West London. Increased supply from January and February left new renters per instruction at 14, giving tenants more room to navigate the market without the intense competition of previous years. Achieved rents held steady at £551 per week, just £3 below 2023 averages, underscoring consistent pricing. With economic sentiment improving and mortgage markets stabilising, Foxtons comprehensive lettings service ensured landlords stayed well‑informed and positioned for a strong Q2.

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For the full Foxtons March Lettings Market Report 2024 click here

Key Figures

Summary

April 2024 brought renewed momentum to London’s lettings market, with demand climbing 12% from March and ending 6% higher year‑on‑year. Following a period of elevated supply in Q1, renters responded quickly to improving conditions, taking advantage of reduced competition and well‑priced opportunities across the capital. New renter registrations in Central London saw particularly strong growth, reinforcing the area’s ongoing appeal.

Renter budgets remained at their highest levels on record for April, rising to £521 per week, a 3% increase on 2023. Surrey and West London led YTD budget growth, reflecting demand for more spacious living options. Achieved rents rose 3% MoM to £555 per week, tracking closely with 2023’s performance. With the Renters Reform Bill progressing through Parliament, Foxtons expert Property Management teams continued to support landlords through compliance changes while ensuring strong returns in a steadily recovering spring market.

Full report

For the full Foxtons April Lettings Market Report 2024 click here.

Key Figures

Summary

May 2024 marked the beginning of the summer upswing, with applicant demand increasing 20% month‑on‑month in line with expectations. Supply expanded rapidly, with new listings rising 36% from April, the strongest monthly increase recorded so far in 2024 and 10% higher year‑to‑date compared with 2023. This influx of stock provided renters with more choice and contributed to reduced urgency in the market after several years of intense competition.

Renter budgets rose sharply to £526 per week, a 3% annual increase, with two‑bed properties recording the highest YoY growth. Despite this, achieved rents softened slightly to £577 per week, 2% below May 2023, as increased supply tempered rental pressure. Entering the summer peak, Foxtons expert tenancy preparation advice, pricing strategy, and strong applicant network ensured landlords were well‑positioned to secure reliable tenants and protect yields.

Full report

For the full Foxtons May Lettings Market Report 2024 click here

Key Figures

Summary

June 2024 marked the true start of the peak lettings season, with applicant demand increasing 15% month‑on‑month as renters began their summer property searches. While overall demand remained slightly below 2023 levels due to a softer Q1, activity in Q2 aligned closely with last year’s trends. Central London continued to outperform, posting a 3% YoY increase in demand, highlighting ongoing strength in the core rental markets.

Renter budgets remained at some of the highest levels seen in recent years, averaging £531 per week. One‑bedroom budgets rose notably, up 5% annually, signalling strong appetite among young professionals and city movers. Supply remained robust, with over 30,000 new listings entering the market, though slightly down from May’s peak. Achieved rents stayed steady at £565 per week, maintaining stability despite year‑on‑year softening. With the market accelerating into the summer, Foxtons’ deep local insight and agile lettings teams ensured landlords maximised exposure and secured strong applicants in a fast‑paced environment.

Full report

For the full Foxtons June Lettings Market Report 2024 click here

Key Figures

Summary

July 2024 captured the height of the summer lettings season, delivering strong performance across both supply and demand. Applicant demand surged 24% month‑on‑month and exceeded 2023 levels by 6%, driven by families moving during school holidays, corporate relocations, and students preparing for the academic year. Supply closely matched this uplift, with new listings rising 22% MoM and surpassing 40,000, the highest July stock level in two years.

Renter budgets were at their strongest in four years, averaging £535 per week, up 2% annually. Competition increased meaningfully, with an average of 19 new renters per instruction and East London seeing the highest pressure. Achieved rents remained stable at £568 per week, reinforcing the market’s resilience even as supply expanded. With Foxtons data‑driven pricing and broad applicant reach, landlords were well‑positioned to capitalise on the busiest period of the year.

Full report

For the full Foxtons July Lettings Market Report 2024 click here.

Key Figures

Summary

August 2024 delivered one of the most competitive months of the year, with renters per instruction jumping 23% month‑on‑month as applicant activity remained at July’s peak levels. Demand continued to outperform in key areas such as Central London, which recorded a 15% uplift year‑on‑year. Despite this strong demand, renters still benefited from improved choice, with new listings 7% higher YTD as landlords remained active in the market.

Renter budgets reached record highs for August at £540 per week, up 2% annually, with one‑bed budgets showing the strongest growth. Achieved rents held steady at £570 per week, reflecting stable pricing in a well‑balanced summer market. With September marking the final window before the traditional autumn slowdown, Foxtons expert pricing and marketing ensured landlords secured high‑quality tenants before entering Q4’s quieter period.

Full report

For the full Foxtons August Lettings Market Report 2024 click here

Key Figures

Summary

September 2024 marked the close of London’s peak lettings season, with demand softening as expected, down 35% from August. Despite this seasonal dip, the year‑to‑date performance remained strong, with Central London showing notable resilience and a 12% uplift in applicants per instruction compared with 2023. Improved stock levels fuelled an encouraging 12% annual rise in new listings, giving renters more choice across the capital.

Renter budgets reached their highest levels on record for September, climbing to £543 per week (+2% YoY), and South London performed particularly well with a 7% annual increase. Achieved rents rose by 2% month‑on‑month to £594, well above the YTD average and reflective of sustained demand for well‑presented, competitively priced homes. As autumn approached, Foxtons detailed pricing strategies and extensive applicant reach continued to support strong landlord outcomes in an increasingly data‑driven market.

Full report

For the full Foxtons September Lettings Market Report 2024 click here.

Key Figures

Summary

October 2024 defied expectations of a cooling landlord market, delivering the highest October stock levels seen in the past four years, up 8% compared with 2023. Strong landlord engagement and renewed confidence in stabilising interest rates contributed to this rise, even as applicant demand softened seasonally, falling 32% from September and 3% year‑on‑year. Central London remained a standout performer, with a 15% YoY increase in demand and an 11% rise in new renters per instruction, reinforcing the area’s ongoing appeal.

Budgets reached their highest point of the year, averaging £558 per week, demonstrating that renter affordability remained robust despite cost pressures. Achieved rents cooled by 4% from September’s yearly high, settling at £567/week, still broadly aligned with last year’s levels. With regulatory changes on the horizon, Foxtons expertise, proactive compliance support and strong applicant network continued to give landlords a competitive advantage in a transitioning but resilient market.

Full report

For the full Foxtons October Lettings Market Report 2024 click here.

Key Figures

Summary

November 2024 delivered a steady and resilient performance across London’s lettings market, with applicant demand rising 1% year‑on‑year despite increased stock levels. Supply remained elevated, posting a 7% YoY uplift and providing renters with greater choice than in previous years, a welcome shift after several periods of constrained stock. Central London continued to outperform other regions, experiencing a 15% increase in year‑to‑date demand, while West London saw the sharpest declines.

Renter budgets held at record highs for November, reaching £541 per week (+2% YoY), indicating continued willingness among renters to pay for high‑quality homes. Achieved rents cooled by 5% month‑on‑month in line with seasonal expectations, but remained stable compared with longer‑term averages. As 2024 drew to a close, Foxtons’ blend of market intelligence, proactive landlord support and compliance expertise ensured strong performance in a year shaped by regulatory change and shifting market pressures.

Full report

For the full Foxtons November Lettings Market Report 2024 click here.