As autumn settles in, the London lettings landscape continues to demonstrate its unique resilience and potential.
While the traditional summer surge has passed, our data reveals a market rich with opportunity for landlords with a London asset and the right strategy. At Foxtons, we're telling landlords to put us through our paces to secure optimal results for their property.
"By focusing on extended lease agreements, we can help ensure properties stay occupied, avoiding the need to search for new tenants during the slower winter period, maximizing your returns.”
Sarah Tonkinson
Managing Director of Institutional PRS and Build to Rent
Key numbers from the report
• This September, new market listings increased 12% from September 2023.
• Rent achieved saw a slight increase of 2% month-on-month with it now sitting at £594 in September.
• Applicant demand decreased 35% month-on-month from August, aligning with the typical seasonal dip.
▶ Watch: how to get a better rental outcome
Are you ready to navigate the autumn rental market? See what Foxtons Managing Director - Lettings, Gareth Atkins recommends for success in this transitional season:
Put us through our paces
London's rental market remains a compelling opportunity for landlords. So, let us do the heavy lifting for your portfolio. With our proven expertise managing every aspect of your listing and tenancy, you can enjoy the returns while London's number one estate agency brand gets it done for you.
More insight on the lettings market:
• Expert guide to tenant referencing
• Second reading of the Renters' Rights Bill
• Autumn boiler servicing for London landlords
• Clarity is key, so we chose Kamma
• 5 tips to maximise your rental listing
Gareth Atkins: As the rental market begins to cool ahead of the winter months, strategic pricing that takes in all the factors of your local market becomes increasingly important. For instance, while overall demand in London experienced a seasonal decline this September, Central London saw a 12% increase in applicants per new instruction.
You need to strike the right balance between market conditions, tenancy timelines and local property values. Foxtons can help determine the rental price that stimulates interest while achieving the best possible outcome for your property.
So, put us through our paces if you want a better rental outcome this autumn, after all, what have you got to lose?
Source:
• Market data: Foxtons Business Analytics produces our monthly Lettings Market Report, leveraging cutting-edge technology and our exclusive database, one of the largest for London's property market, to provide unparalleled insights for our landlords each month.
• Expert insight: To provide you with the most value, this article features our leading lettings experts. Our team's hands-on experience comes from many years in the industry with London's leading lettings agency, so you can rely on our practical, market-tested insight.
This blend of data-driven analysis and expert commentary offers a comprehensive view of the market, helping landlords navigate any market conditions with confidence. For any questions on the report or insight, ask a Foxtons expert.
