This report, carried out by Savills and the London School of Economics, examines the supply of Private Rented Sector accommodation in London, and its relationship to homelessness pressures.
Combining detailed analysis of rental market data with surveys, interviews and focus groups, the research focuses on the most affordable section on the market. This is because this portion has the greatest impact on low-income Londoners and local authorities' ability to procure temporary accommodation.
The report was launched at an online event on 5 July, with presentations from the researchers and speakers from the charity and public sectors. Watch it back here. You can download the presentation from this event, as well as the full report, at the bottom of the page.
Key findings
- Rental listings have fallen across London. Across 1-4 bed properties the overall reduction is 41 per cent down on the 2017 average. This reduction in the availability of private rental accommodation is higher in London, compared to a fall of 33 per cent nationally.
- The number of 1-3 bed properties listed for rent in both inner and outer London was down by around 36 per cent since the pandemic (comparing January-March 2023 to the January-March average across 2017-19).
- Listings for four-bedroom properties declined the most. Over the same period, listings of four-bedroom properties almost halved (46.6 per cent).
- In February 2023 asking rents were close to 20 per cent higher than they were at the start of the first COVID-19 lockdown in March 2020. The weakness in new supply coming to the market indicates that further rental growth is likely.
Read the full report
Download the full report below. You can also download the presentation Abigail Davies (Savills) and Kath Scanlon (LSE) shared at the launch of the report, outlining key findings.
06 July 2023