Tenant functions surged by 35% between April and Might, counteracting April’s dip with a powerful seasonal uplift.
On the identical time listings rose by 9% month-on-month, Foxtons knowledge exhibits.
Whereas this implies tenant demand is rising, it’s nonetheless extra measured than final yr. There are presently 14.15 renters per instruction, a 14% enhance from April.
Gareth Atkins, managing director of lettings at Foxtons, stated: “London’s rental market got here again with actual drive in Might.
“We noticed a 35% surge in applicant demand alongside sustained development in provide, a transparent signal of a market gaining power and momentum.
“Central London continues to outperform, and renters are re-engaging with tempo and goal.
“As we transfer into summer time, the lettings panorama is vibrant, aggressive, and filled with alternative for each landlords and tenants.”
Central, North and Surrey present the best enhance in competitiveness, the place tenant registrations grew by 24.7%, 21.6% and 34.7% respectively.
12 months-to-date, rental values are up 3% versus 2024, led by regional will increase in West London (+5%), South London (+4%) and Surrey (+5%).
