Press & media coverage

London renters now spend 49.5% of their income on rent, down from around 50% in 2024, according to newly released market data from Benham and Reeves.

The average tenant spends roughly half their monthly income on rent despite a year-on-year improvement across the Capital, according to Benham and Reeves boss Marc von Grundherr.

London renters now spend half of their earnings on rent each month, according to new analysis by estate agency Benham and Reeves.

Marc von Grundherr, director of London estate agency Benham and Reeves, said the figures suggest a nation keen to make a move, which bodes well for the rest of the year.

Research by London lettings and estate agent Benham and Reeves analysed current for-sale listings across England, assessing the average asking price of homes based on the number of photographs used in their online advertising listing.

Director of Benham and Reeves, Marc von Grundherr, commented: “The property market has bounced back fighting fit following the festive break, with the reduction in house prices seen during December giving way to positive growth in 2026. This suggests that the nation’s homebuyers and sellers have wasted no time in putting their plans into motion, driven by improving affordability and the recent boost of a base rate cut."

Marc von Grundherr, director of Benham and Reeves: “The property market has bounced back fighting fit following the festive break, with the reduction in house prices seen during December giving way to positive growth in 2026. This suggests that the nation’s homebuyers and sellers have wasted no time in putting their plans into motion, driven by improving affordability and the recent boost of a base rate cut. It’s already shaping up to be a far stronger year for the market and one that should see a reduction in selling times, improvements to the prices being achieved and the overall volume of transactions taking place.”

Director of Benham and Reeves, Marc von Grundherr, commented: “The property market has bounced back fighting fit following the festive break, with the reduction in house prices seen during December giving way to positive growth in 2026.

“2025 was a steady but subdued year for the property market and, as a result, many sellers will have experienced little to no buyer interest, particularly across the more inflated regions of the South and London,” explained Marc von Grundherr, director of Benham and Reeves.

Analysis from Benham and Reeves found that homes listed for sale with four photos or fewer were priced £80,000 lower on average than properties with five or more images.