Record bests for UK rental market

The latest month on month data from the Agency Express Property Activity Index has shown declines across the UK rental market, but figures remain robust year on year.

Throughout August the UK rental market typically sees a slowdown in activity, and in this month’s index declines were recorded.  New listings ‘To Let’ sat at -4.1% and properties ‘Let’ at -1.9%.   However the Property Activity Index’s historical data shows the declines made in 2016 to be considerably less than those recorded in 2015, where figures for new listing sat at -13.2% and ‘Let’ properties at -9.2%.

Across the rest of the UK, four of the twelve regions recorded by the Property Activity Index reported an increase in new listings and three in properties ‘Let’.  This month’s top performing region was East Anglia, recording increases in both in new listings ‘To Let’ at 1.1%  and properties ‘Let’ at 6.1%.   A buoyant market was also reported in the North East with properties ‘Let’ sitting at 20.2%.  Again looking back over the Property Activity Index’s historical records we can see that the figures reported for East Anglia and the North East are record bests for August.

Other regions to buck the seasonal trend included:

Properties ‘Let By’

  • London 5.90%
  • South West -0.40%

Properties ‘To Let’

  • Wales 15.30%
  • South East 3.70%
  • South West 2.30%

The largest declines in this month’s Property Activity Index were made in Central England. Month on month data shows new listings ‘To Let’ sitting at -16.2% and properties ‘Let’ at -9.2%, but again figures for new listing were up on those recorded in 2015 (-21.7%).

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: This month the UK rentals market has seen some seasonal decline, but our data shows this to be less than in years previous. This year we have seen more regional growth with areas reporting their record best increases in new listings, whereas in 2015 only one region reported an increase - Wales at 3.40%.  As we collate September’s data we would expect to see a spike in active once again. Last September new listings sat at 4.2%, this year we’d hope to see a larger increase based on current activity.

Monthly % Changes for August 2016

% Changes for Jun - August 2016

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

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

New ListingsProperties Let
Aug 16Aug 15Aug 16Aug 15
NATIONAL-4.1-13.2-1.9-9.2
Central England-16.2-21.7-9.2-8.7
East Anglia1.1-15.96.1-17.3
East Midlands-13.4-8.9-9.8-18.1
London-1.9-20.35.9-8.7
North East-10.9-18.620.2-7.4
North West-1.1-6.5-0.6-11.4
Scotland-9.8-18.5-11.5-15.1
South East3.7-8.7-5.61.4
South West2.3-24.4-0.4-13.4
Wales15.33.4-4.60.4
West Midlands-13.7-11.2-4.71.8
Yorks & Humber-11.1-4.3-5.6-11.2
New ListingsProperties Let
Jun -
Jul 16
Jun -
Aug 15
Jun -
Aug 16
Jun -
Aug 15
NATIONAL0.3-0.50.61.7
Central England-6.1-2.8-1.42.1
East Anglia2-0.90.81.3
East Midlands22.42.1-2.6
London2.40.24.43.9
North East0.33.13.55.2
North West1.82.21.90.5
Scotland-4.4-6.7-4.91.1
South East2.1-1.1-8.61.2
South West1.3-3.13.40.6
Wales0.23.80.7-0.7
West Midlands-1.5-0.632.9
Yorks & Humber1.30.92.93.8
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