With the final December data now in, our latest Lettings Market Report reveals the complete story of London's 2024 rental market. Looking ahead, 2025 promises to be a pivotal year – and we've got the expert insights you need to stay ahead of the curve.
"Looking at the rental landscape in the year ahead, I expect to see traditional seasonality in the market, similar to 2024. Whilst we're projecting modest rent growth of 3-5%, the real story will lie in the resilience of supply levels.”
Gareth Atkins,
Managing Director - Lettings
See the full story in the Lettings Market Report - December 2024
📈 Key numbers from the report
· In the first half of 2024, applicant demand was 6% behind 2023. In the second half of the year, demand was 1% ahead, showing strength returning to the market.
· Average rent achieved in 2024 closely mirrored 2023, with a marginal 2% decrease.
· In 2024, new market listings rose by 8%, totalling over 385,000 listings.
🎬 Watch: London landlords start 2025 strong
Fran Giltinan, Managing Director - Property Management & Customer Experience, shares how landlords can get ahead of big changes in 2025 with a proactive January:
Grab January by the Foxtons
Many London landlords are using the new year as motivation to get their rental properties in order. With a busy year ahead, it's best to start early. Our team meticulously tracks every market shift, so we ensure every Foxtons-managed property stays far ahead of changing regulations. Grab January by the Foxtons with a call to Foxtons Property Management today, and be confidently compliant throughout 2025:
More insight on the lettings market:
• Top tax tips for London landlords
• New year, new hires: the best time for landlords to embrace corporate housing
• Limiting 'Rent in Advance' - and the overseas student market
• Second reading of the Renters' Rights Bill
Fran: "It comes as no surprise that we have had an 18% increase in landlords opting for Foxtons Property Management, because in the coming year, how you manage your rental property will be paramount given tenants’ expectations and the Renters’ Rights Bill. The need for a landlord to communicate effectively with their tenant, be on point with compliance and respond immediately to maintenance issues has never been greater.
"This January, many landlords are getting their rental portfolios in order ahead of these big changes in the market. Our campaign, “Grab January by the Foxtons,” invites you to start the year with a call to Foxtons Property Management. We can navigate the changes for you and deliver the peace of mind you need for a great year in property."
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.
