Applicant demand is recovering, supply remains ahead of last year, and affordability pressures have stayed stable despite the introduction of the Renters’ Rights Act, reports Foxtons.

The London-based estate agency says April provided a “clear benchmark” for how the market is positioned as it enters the new regulatory environment, with activity strengthening through the month and rents remaining flat year-on-year.

New listings up

New listings were up 3.7% compared with April last year, which Foxtons says points to “continued landlord confidence”, although listings dipped 6% month-on-month following the early spring peak.

Applicant registrations rose 9.5% during April as the market moved into the spring lettings season, although demand remained 6% lower than the same period in 2025.

Competition between renters also eased compared with last year, with renters per instruction down 6.5% year-on-year as supply improved. The 15.6% month-on-month increase, however, suggested demand was beginning to accelerate again.

Gareth Atkins (pictured), Managing Director of Lettings at Foxtons, says: “The Renters’ Rights Act has landed in a busy season with momentum unimpeded by the new legislation.

The more interesting shift is behavioural: renters are moving earlier and acting more decisively, but they’re also more discerning about where they spend their time.”

“Applicant numbers have spiked, supply is strong, and budgets are holding firm.

“The more interesting shift is behavioural: renters are moving earlier and acting more decisively, but they’re also more discerning about where they spend their time.

“A property that would have generated viewings on momentum alone two years ago now needs to earn them.

“The market is rewarding landlords who treat the launch of a let with the same care as the launch of a sale: clear positioning, accurate pricing, and a property that’s genuinely ready on day one.”