London landlords remain in rental market as competition rises

Competition for available rental properties in London rose over the summer amid the Renters’ Rights Act, according to a new report.

Data from Foxtons reveals that while renter registrations eased, competition for available properties increased in August, with 24 renters registering per new instruction.

The figures show that competition rose by 22.4% in August, reaching its highest level in 2026.

Shift in demand

West London recorded the sharpest increase in competition, with 20.9 renters per new instruction, up from 18.0. Every property brought to market in August attracted the largest pool of applicants seen so far this year.

The findings also reveal that the supply of rental properties grew in the run-up to the Renters’ Rights Act and continued to increase during its first months in force.

Foxtons said this was the clearest evidence yet that landlords have remained active in the London rental market.

Gareth Atkins, managing director of Lettings, explains the summer saw a shift in the timing of demand among students.

He said: “Across 2026, competition for London rental property remained steady at just under 18 renters per new listing. What changed was when demand arrived.

“The Renters’ Rights Act appears to have brought some moves forward, particularly among students, spreading activity more evenly across the summer and easing the traditional August peak.

“For landlords, that meant a longer letting window. Whether this is a lasting shift remains to be seen, with 2026 likely a year of adjustment rather than a new normal.”

Renter budgets

The data also reveals renter budgets averaged £571 per week in August, 1.9% below July, with the year-to-date figure at £561, up 0.9% on 2025.

Central London led at £632 a week, up 4.2%, and West was the only area below last year, down 2.2%.

One-bedroom flats carried the largest movement of any property type, up 3.4%