Demand for private rental properties in London has hit a three-year high, according to Foxtons.

The company’s Lettings Market Report for June 2021 provides an overview of the dynamics in the London lettings market last month.

The report shows that there was a 61% increase in demand in June compared with May, leading to a 44% rise in renters per new instruction in the same time period.

Applicant budgets have increased 2% month-on-month as renters begin to increase their budgets to secure the right property.

June saw the second month of sustained growth in rents achieved with a 5% increase month-on-month.

A second report released by Foxtons, click here to view, provides a more in-depth review, revealing the evolution of rental hotspots.

This second report shows how demand for rented homes has spread out across London when comparing 2010 and 2021.

Looking at east London Foxtons has tracked the evolution away from Islington, whilst in south London renters have ventured away from Clapham.

Looking at next rental hotspots – Foxtons’ analysis of price vs travel time ratio has helped to identify future rental hotspots including Wembley Park, Brentford and Croydon.

London’s lettings market includes data showing the imbalance between supply and demand, average weekly rents by Zone and property type, plus other useful data.