CEO & Co-Founder of Hello Neighbour
In December 2024 we saw lower demand alongside higher rental prices.
As the market typically slows during the colder months, a decline in viewing requests is expected at this time of year.
We had 28 viewing requests per property in December 24; however, Year on Year, Dec 24 was 42% lower than Dec 23.
London rents in December were up 6.9% from the previous month to £2,266, and up 4.7% compared to the previous three months. Year-on-year, rents increased by 6.9% compared to December 2023, a
change from the decreasing trend over the past few months.
change from the decreasing trend over the past few months.
We are still seeing rental prices stay near the average, with 67% of landlords pricing within 10% of market rate.
The gap in demand for outer London properties versus inner London remains close, with 67 viewing requests in outer London compared to 63 in inner London
Redbridge once again had the highest number of viewing requests over the past three months, with 443 requests per property on average, followed by Islington with 282.
Download the full report here:
Hello Neighbour | Lettings Insight Report | Dec 2024
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