London’s rental market was buoyed in June, with Foxtons recording a 21% month-on-month increase in lettings.
Additionally, supply in the capital grew to its strongest level in four years with 45,000 new listings in June.
This was an increase of 18% from the previous month.
June’s letting activity was up from May, but remained 4% below 2024’s levels.
Similarly, overall demand in 2025 so far has remained broadly aligned with last year and trailed 4% year to date.
June also saw average weekly rents climb 1% from May to £593 per week.
Average applicant budgets increased by 1% month-on-month and, at over £550 a week, are 2% ahead year-to-date compared to 2024.
While budgets continue to edge higher, the pace remains modest, constrained by elevated rental costs and broader affordability pressures.
“The London lettings market showed strong signs of stability in June, with applicant numbers rising 21% from May and new listings at their strongest level in four years,” said Gareth Atkins, managing director of lettings at Foxtons.
“This increase in supply is helping to ease pressure on renters, as seasonal demand increases, and with more applicants in the market, good landlords will see strong demand across the capital.
“As we move into the summer, we expect this healthy balance between supply and demand to continue, offering more choice for renters and a stable and predictable environment for London’s landlords.”
