Rental demand for property in Central London surged by 15% in 2024, analysis from Foxtons shows.

This contrasts with West and South London, both of which saw falling rental demand of -20% and -11% respectively.

Demand is measured in terms of the number of tenants registering their interest with the estate agency firm.

Gareth Atkins, managing director of lettings at Foxtons, said: “As we step into 2025, the lessons of 2024 are clear: success requires not just property, but proactive, intelligent market engagement for buyers, sellers and landlords alike.”

New renters per new instruction in 2024 have been 12% lower than in 2023 year to date, averaging 15 applicants per instruction by the end of November.

Typical rents in November 2024 were £541 per week, a 5% decrease month on month compared to October, as well as a 2% decline year-on-year.

Rent on houses has seen the largest decline in 2024 with a 5% decrease, whereas one bed flats have seen a 1% increase.

Via @PropertyWire