Advertised rents in London saw an 8.7% year-on-year increase in July, according to figures from Hello Neighbour. This annual rise accelerated from 6.4% recorded in June.
The increase occurred despite a continued decline in tenant enquiries. The average number of enquiries per property dropped to 34 in July, down from 43 in June and 50 in July 2025. This compares to 51 enquiries in July 2024 and 93 in July 2023.
Hello Neighbour attributed this trend of rising rents amid falling demand to reduced net migration and affordability pressures, noting that rental supply remained stable. The online agency also observed a widening gap between advertised and achieved rents, which grew from 1.4 percentage points in June to 2.7 in July.
The agency suggested that changes from the Renters’ Rights Act are encouraging landlords to advertise properties at higher initial rents. This is because landlords can no longer accept offers above the advertised amount and face a more restrictive process for increasing rents during a tenancy.