This January, demand for rental properties in London increased 83% from December 2024, according to Foxtons.
The agency’s lettings data for January also reveals that there was a 51% increase in volume of listings coming to market from December 2024.
The average rent in January 2025 increased 2% from January 2024.
Gareth Atkins, managing director of Lettings at Foxtons, said: “Foxtons’ analysis of new listings in the London rental market reveals a slight increase from this time last year, but a 55% increase in available properties compared to the same period of 2023 – highlighting a notable expansion in supply.
“While the coming spring market should bring an uptick in demand, the substantial growth in supply is contributing to increased competition among available properties. The London Lettings market is therefore looking as if it will stabilise as we move into the spring offering predictability for both renters and landlords.”
Foxtons year to date key market indicators:
| Supply
New Instructions (year-on-year) |
Demand
New Renter Registrations (year-on-year) |
|
| All London | -2% | -3% |
| Central | 0% | 11% |
| East | 14% | 3% |
| North | -13% | 9% |
| South | 0% | -12% |
| West | -14% | -18% |
Foxtons are making huge gains right across the sector and are forecast to report their best financial trading year next month, so this news doesn’t surprise me at all. Yes, they were hated by some in the late 90’s and early 2000’s but the company is now the No 1 estate agency in London for both sales and lettings. How times have changed.
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