CEO & Co-Founder of Hello Neighbour
Rental prices increase over last 3 months
We had 52 viewing requests per property in July, the same as in May and June 2024; however, this is significantly down from last year's 93 requests in July 2023.
London Rents in July were up 7% from the previous month to £2,452 and up 14% compared to the previous three months, with the percentage of landlords pricing above market rates is 35%, down from a three-month average of 45%. Demonstrating a seasonal increase in pricing as we moved into summer.
In July 2024, we saw year-on-year rents increase by 3.9% compared to July 2023, showing that year-on-year rental price increases remain low.
We continue to see higher demand for outer London properties in July, with 85 viewing requests compared to 72 for inner London.
Havering takes the top spot for the highest number of viewing requests over the past three months, with 216 requests per property on average, followed closely by Watford with 213.
Download the full report here:
Hello Neighbour | Lettings Insight Report | July 2024
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