Foxtons reveals 11% jump in London rental listings
The corporate estate agency has found the number of new properties to let has risen in every month since March.
Rental listings in London are up 11% this year in a development which could ease pressure on rent prices.
Data from Foxtons shows that in every month since March there has been a jump in the number of new properties to let.
Last month’s total was 6% lower than August, but it exceeded September 2024 levels in the capital.
Rents up
However, average rents increased by 3% in September compared to the previous month, reaching almost £600 per week, which was highest figure in four years.
Year-to-date, average rents are 2% higher than in 2024, with increases recorded across all London regions except North London.
Resilience
This upward trend highlights the resilience of pricing, supported by strong tenant demand, Foxtons says.
Rental demand fell by 32% in September compared with August, in line with the seasonal slowdown at the end of summer.
Year-to-date applicant demand remains 7% lower than September 2024, however levels remain stable overall.
Increased stock levels and resilient budgets suggest a more balanced market is emerging.”
Gareth Atkins, MD of Lettings at Foxtons, says: “September saw a seasonal dip in applicant demand, but rental values remained strong, with average rents reaching a four-year high.
“Increased stock levels and resilient budgets suggest a more balanced market is emerging,” he says.
“Looking ahead, the Renters’ Rights Act, looking likely to begin implementation in 2026, will bring major changes, including the end of Section 21 evictions and a shift to rolling tenancies.”
