Foxtons’ internal lettings data suggests the market in London is more balanced now than in the recent past.

There was a 5% increase in market supply in April, and a 9%, increase in market supply of new instructions year to date.

The average rent in April 2025 increased by 3% to stand at £589 per week.

April saw a 3% month-on-month reduction in applicant registrations, which goes against the trend usually seen at this time of year.

And in April, renters spent an average of 96% of their budgets – a decline from prior months, suggesting a less competitive market.

Gareth Atkins, the agency’s managing director of lettings, says:“April’s rental market activity reflects a more balanced landscape for renters and landlords alike. 

“A 5% rise in new property listings has helped ease some of the pressure seen in recent years, giving renters greater choice and more room to negotiate. 

“The slight slowdown in applicant registrations—down 3% month on month—also indicates a shift in pace, which is typical of a market moving toward greater stability. 

“This trend, alongside a dip in the average percentage of budget spent, shows the market is becoming less competitive and more accessible for many.”