Competition for available rental properties in London increased over the summer, according to a new report from Foxtons. Data reveals that in August, competition rose by 22.4%, reaching its highest level in 2026, with 24 renters registering per new instruction.
West London experienced the most significant rise in competition, with 20.9 renters per new instruction, up from 18.0. This indicates that every property entering the market in August attracted the largest pool of applicants seen this year.
Despite the Renters’ Rights Act, the supply of rental properties grew, suggesting that landlords have remained active in the London rental market. Gareth Atkins, managing director of Lettings, noted a shift in student demand, spreading activity more evenly across the summer and easing the traditional August peak.
Renter budgets averaged £571 per week in August, a 1.9% decrease from July. Central London recorded the highest average at £632 a week, an increase of 4.2%, while West London was the only area to see a decrease, down 2.2%.