Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details. Many UK teams now handle this with dedicated property inventory software.
London Lettings Supply Outpaces Last Year, Says Foxtons
Foxtons has reported that supply levels in the London lettings market are currently ahead of those seen last year. The agency's latest market snapshot for April indicates that the market is moving towards more balanced conditions.
According to Foxtons, the increase in supply is helping to ease competitive pressure in the capital's lettings sector. The report notes that applicant demand is recovering, and activity in the lettings market strengthened throughout April.
The snapshot also highlights that affordability metrics have remained stable, and rents have stayed flat year on year. The market is described as moving towards balance ahead of the implementation of the Renters Rights Act.
These developments are relevant for letting agents and inventory clerks monitoring trends in supply, demand, and rental pricing in London.
Source: Letting Agent Today