June slump for UK rental market
Junes data from the Agency Express Property Activity has shown a cooling across the UK rental market. Month on month figures for new listings ‘To Let’ did see a marginal increase sitting 0.90%, but figures for properties ‘Let’ fell to sit at -1.9%. The index also highlighted that figures for properties ‘Let’ during June were at their lowest since 2014.
This months data appears consistent with recent reports from the Council of Mortgage Lenders who said: “After the distortion of the stamp duty change last year, buy-to-let house purchase activity stabilised, albeit at a lower level than before. We had expected a slight recovery in lending levels, but that has not materialised.”
Commenting on the latest Property Activity Index lettings report, Stephen Watson Managing Director of Agency Express said:
As we look back over historical data recorded by the Property Activity Index, we can see that June is usually a buoyant month for UK lettings. However, this year we have witnessed a slower moving market specifically in the number of properties ‘Let’. Moving in to July and August, if usual trends dictate we don’t anticipate any large increases in activity.
To read the latest Property Activity Index report in full click here: