Rental pricing decreased year on year in June

We had 52 viewing requests per property in June, consistent with May; however, this is significantly down from last year's 80 requests in June 2023. Rents in June within London are up 7% from last month to £2,308 and 8% up compared to the previous three months, with prices increasing across all bedroom sizes.

Year on year, rents have stayed flat, with a small decrease in June 2024 compared to June 2023. This is the first time we have seen rents decrease year on year since we began our insight reports in January 2023.

Landlord pricing above market value remained consistent at 45%, compared to landlords pricing below market rates at 55%. 

We continue to see higher demand for outer London properties in June, with 93 viewing requests compared to 72 for inner London. 

Waltham Forest takes the top spot for the highest number of viewing requests over the past three months, with 188 requests per property on average, followed closely by Watford with 185.

June 24 insights pic

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Hello Neighbour | Lettings Insight Report | June 2024