London’s rental sector sees listings surge – Foxtons

London’s lettings sector is flourishing as spring approaches, with a 14% boost in new rental properties listed in March compared to February, Foxtons’ latest data shows.

It says this marks the biggest monthly increase in 2025 as the average weekly rent in the capital reached £565 in March.

That’s up 2% from the previous year, maintaining stability from February.

South London and Surrey led the growth, each seeing a 6% annual rise, fuelled by demand for spacious family homes.

Surge in new listings

The firm’s managing director of lettings, Gareth Atkins, said: “The London lettings market is gaining momentum as we enter April, with March delivering a 14% surge in new listings – the largest uplift so far this year.

“Simultaneously, applicant registrations climbed 11%, reflecting strong seasonal interest and sustained confidence among renters.”

He added: “With more choice coming to the market, renters are well-positioned this spring.

“At the same time, the steady flow of listings is helping to keep conditions balanced across much of the capital, creating a more stable and competitive environment for everyone navigating the market.”

More new tenants registered

Prospective renters showed strong enthusiasm, with an 11% month-on-month increase in tenant registrations.

Foxtons says that renter demand held steady compared to March 2024, dipping just 2%, with central London experiencing a notable spike in interest.

Despite the influx of properties, competition softened slightly, with an average of 12.6 applicants per new listing, a 4% drop from February.

East London saw heightened interest, while west London and Surrey noted calmer activity.

While new listings grew significantly from February, annual supply remained nearly unchanged, up just 1% from March 2024.

The agency says this balance underscores a stabilising market, particularly in mid-market and core areas, offering tenants greater choice without drastic rent fluctuations.