London rental prices remained steady in May 2025, with new data from Hello Neighbour showing a 1.1% increase compared to May 2024. 

The latest insights report from the lettings and property management agent shows rents are at the same level as in May 2023, having undergone a month-on-month decline of 2% and a 1.3% rise on the previous three-month average.

The report reveals that 72% of landlords are pricing their properties within 10% of the market rate, suggesting a broadly stable pricing strategy.

Tenant demand followed a similar pattern, holding steady in line with the rest of 2025 but reflecting the usual seasonal slowdown seen in May. 

On average, there were 39 viewing requests per property in May 2025, marking a 25% decrease from May 2024 and a 37% drop compared to May 2023.

The gap in demand between outer and inner London remained narrow, with outer London properties averaging 82 viewing requests over the past three months, compared to 79 in inner London.

Barking recorded the highest demand, with an average of 270 viewing requests per property over the last three months. Redbridge followed closely, with 194 requests per property.