London rents in June were down 5.1% compared to June 2024, and 4.5% lower than in June 2023. 

This is according to London-focussed online agency Hello Neighbour. 

Its latest report says: “Month-on-month, we’ve seen a decline of 1.5%, and a 1.9% drop when compared to the previous three months.

“70% of landlords are still pricing within 10% of the market rate. 

“However, we are starting to see a few more monthly listings priced more than 10% above the market than the last three months.”

The agency also notes that tenandemand has not increased as it typically has in previous years. 

Most notably, compared to June 2023, demand is 50% lower. 

In June 2025, there were 40 viewing requests per property, which is 23% lower than in June 2024.

The gap in demand between outer and inner London has remained narrow over the past three months, with an average of 87 viewing requests per property in outer London, compared to 79 in inner London.

Redbridge was the most popular area over the last three months, with 201 viewing requests, while Barking came a close second with 198 requests.