Research publicised by London Councils on 5 July 2023 described a sharp reduction in advertised private rental availability in the capital. The work, undertaken by LSE and Savills, compared January to March 2023 with the average for the same months across 2017 to 2019. Its overall reduction of 41% covered listings of one- to four-bedroom homes.
The release reported falls of around 36% for one-, two- and three-bedroom listings, while four-bedroom listings were down 46.6%. It also said London asking rents were 20% above their March 2020 level. These were historical observations about availability and advertised prices, not a current count of every privately rented home.
London Councils and its partners connected the findings with difficulties faced by lower-income households and boroughs seeking accommodation. They called for changes to housing support and more affordable homes. Those policy requests should be distinguished from the research measurements themselves.
What the headline can tell us
Our interpretation is that a listings measure answers a question about choice at a particular time. It is different from counting all occupied rental homes. A property can remain in the sector while no longer appearing in an advertisement, for example because an occupier has stayed or a new letting has been agreed. The headline alone cannot allocate the change among all possible explanations.
This distinction also matters when comparing locations. An applicant searching for a larger home may face a different set of options from someone seeking a smaller flat. Combining those groups into one percentage can provide a broad picture while concealing important differences.
A useful way to read a supply report is to record the geography, property sizes, observation period and comparison period alongside each number. Then ask whether the measure is new advertisements, available listings, tenancy starts or the total housing stock. Without that description, two apparently conflicting headlines might simply be measuring different things.
This archive preserves the July 2023 evidence and its limits. It does not establish today’s London rental availability or suggest that 41% of all rented homes disappeared.