Seasonal slowdown for UK lettings market in April

Following a buoyant period across the UK lettings market in March, the latest figures from the Agency Express Property Activity Index have reported a decline in activity.

National month on month figures for properties ‘To Let’ sat at -10.4%, while figures for properties ‘Let By’ sat at -17.7%. By and large this month’s data follows historical trends, but the declines recorded for properties ‘Let By’ are greater than those reported 2021.

Across the twelve individual regions recorded by the Property Activity Index, only one region reported an increase in properties ‘To Let’ and two regions reported increases in properties ‘Let By’.

The North East bucked the seasonal trend with figures for properties ‘Let’ at a robust 13.1% and new listings at 11.6%, marking the regions first increase for the month since 2014.

London followed suit with figures for properties ‘Let By’ at 8.7%. Again, marking the regions first increase for the month since 2016. On the flip side, London also recorded one of the greatest declines in the month index. At a four-year low figures for new listings ‘To Let’ sat at -30%.

Across the rest of the UK activity remained on trend:

Properties ‘To Let’

  • West Midlands -3.9%
  • Scotland -4.1%
  • Wales -6%
  • South West -6.1%
  • North West -6.9%
  • East Midlands 10.9%

Properties ‘Let By’

  • East Anglia -4.2%
  • West Midlands -5%
  • Scotland -8.5%

The largest decline in activity was recorded in Yorkshire and Humberside. Figures for properties ‘Let By’ fell to -42.1%, marking the largest decline for the region post COVID.

Commenting on the latest Property Activity Index lettings report, Ben Brookes Managing Director of Agency Express said: 

It is not uncommon for us to see a seasonal dip throughout April, and while this year’s declines are greater than years previous, figures are not wildly different to what we would anticipate. With a mix of increased living expenses and international travel back on the cards, we'd expect some fluctuation in activity. Based on historical trends we now anticipate a pickup in activity during May and a further increase in June. As we move into these months it will be interesting for us to see how the year-on-year comparisons fair.



Monthly % Changes for April 2022

% Changes for Mar - April 2022

New Listings
% Change over last 12 months vs Previous 12 months

Properties Let
% Change over last 12 months vs Previous 12 months

New Listings Properties Let
Apr 22 Apr 21 Apr 22 Apr 21
NATIONAL -10.4 -13.2 -17.7 -15.7
Central England -10 -16.6 -25.6 -14.6
East Anglia -11 -5.8 -4.2 -19.5
East Midlands -10.9 -15.7 -17.6 2.5
London -30 -19 8.7 -20.6
North East 11.6 -2.4 13.1 -7.1
North West -6.9 -4.7 -16.3 -18.6
Scotland -4.1 -1 -8.5 27.6
South East -19.3 -22.7 -23.4 -4.3
South West -6.1 -17 -20.4 -29.3
Wales -6 -5.3 -14.1 -1.2
West Midlands -3.9 -23.9 -5 -17
Yorks & Humber -13.1 -7.1 -42.1 -24.5
New Listings Properties Let
Mar -
Jun 22
Mar -
Apr 21
Mar -
Apr 22
Mar -
Apr 21
NATIONAL -2.3 -0.3 0.4 2.4
Central England 1.1 -1.2 -2.7 3.3
East Anglia -1.2 1.1 1.8 1.9
East Midlands -2.6 -1.6 -5.5 2.8
London -5.9 1.9 11.3 7.9
North East 7.9 -5.6 7.8 -8.2
North West 9.3 -2 14.6 -4.6
Scotland 5.3 14.6 6 12.6
South East -14.6 -6 -5.2 6.7
South West -8.8 -5.1 -9 -3.7
Wales 0.5 5 -0.9 12.3
West Midlands -0.1 -4 7.3 2.2
Yorks & Humber -2.4 2.1 1 1.3
Loading...

Creating the report for you to download...

Request a Quote
Close Let us know how
we can help you...

    Thank you!

    Close Let us know how
    we can help you...

      Thank you!