As August draws to a close and London moves into September, the lettings market in London is entering a traditionally important period of the year.

The summer holidays often bring a slightly different rhythm to the market, with tenants, landlords and decision-makers away at different points throughout August. September tends to change that quickly. People return to London, the new academic year begins and moving plans that may have been put on hold over the summer come back into focus.

Against that backdrop, the latest lettings figures offer some encouraging signs for landlords.

Activity held up through August

Despite the seasonal effect of the summer holidays, demand remained resilient during August.

At Douglas & Gordon, lets agreed were up 8% year on year, while lets exchanged increased by 11%. We also saw a particularly significant rise in lettings valuations, up 37% compared with the same period last year.

Part of that activity reflects landlords reviewing their position in response to the changing regulatory environment, including the Renters’ Rights Act. For some, that has meant reassessing existing tenancies or their wider portfolio. For others, it has reinforced the importance of having the right advice in place as the private rented sector continues to evolve.

What we are beginning to see, however, is a market moving beyond the initial period of uncertainty and into a more settled phase.

September brings renewed momentum

September has several natural drivers of activity across the lettings market in London.

The end of the main summer holiday period brings more applicants back into the market, while the start of the academic year creates additional demand from students, graduates, families and professionals relocating or returning to London.

It is also a point at which landlords tend to revisit plans that may have been deferred over the summer, whether that means bringing a property to market, reviewing an existing tenancy or reconsidering the performance of a wider portfolio.

For landlords with a property becoming available this autumn, that returning demand can create a valuable window of opportunity.

London rents remain resilient

The wider London rental market continues to support that picture.

According to Rightmove, the average advertised rent in London reached £2,791 per month, up 2.0% quarter on quarter. This represented the strongest quarterly increase since 2023, while annual rental growth stood at 2.9%.

For landlords, continued rental growth is positive, but achieving the best result is not simply about pushing for the highest possible asking price.

A well-priced property can generate stronger competition, reduce the risk of an extended void period and give landlords a better selection of prospective tenants.

As the lettings market in London moves into the busier autumn period, getting that balance right becomes particularly important.

The Renters’ Rights Act remains front of mind

The Renters’ Rights Act has understandably prompted many landlords to review how they approach their rental properties.

Changes to the private rented sector mean landlords need to be increasingly confident that their properties, tenancy arrangements and management processes are set up correctly.

While the regulatory landscape has created additional considerations, the underlying fundamentals of the London rental market remain strong. There continues to be significant demand for good-quality, well-presented rental homes.

The focus is therefore shifting from reacting to change towards understanding how best to operate within the new environment.

For landlords, that makes professional advice, careful tenant selection and proactive management increasingly important.

Looking ahead to autumn

August may traditionally be a quieter point in the lettings calendar, but the lettings market in London has entered September with encouraging momentum.

Demand has remained resilient, rental values continue to grow and our own figures show increasing activity across lets, exchanges and valuations

With London returning to its normal rhythm after the summer break and the autumn market beginning in earnest, the coming weeks could present a strong opportunity for landlords considering their next move.

If you are thinking about letting a property, reviewing your current tenancy or would like advice on how the changing rental landscape could affect you, speak to your local Douglas & Gordon Partner.

Thinking about your next move?

If you are considering letting your property this autumn, start with an up-to-date rental valuation to understand what it could achieve in the current market.

Or, if you already let a property and want more support with the day-to-day management, compliance and tenant journey, speak to us about our managed tenancy service.

Book a free rental valuation or get in touch to find out more about our managed tenancy service.

Phone: +44 (0)20 7963 4600

Email: [email protected]