Year on year declines for August lettings market

The latest data from the Agency Express Property Activity Index, has revealed a further decline in activity for the UK lettings market in August.

National month on month figures for properties ‘To Let’ sat at -11.3% and figures for properties ‘Let’ at -8.1%. Looking back over the index’s archive data we can see that this year’s declines are greater than those recorded in 2018, where new listings sat at -3.2% and properties ‘Let’ at -1.9%.

Observing activity across the individual regions recorded by the Property Activity Index, only 1 of the twelve regions reported increases in properties ‘To Let’ and two reported increases in properties ‘Let’.

Regions to buck the trend in this month’s index were the East Midlands, Central England and Scotland. Central England sat at the top of the leader board with figures for properties ‘Let’ at a robust 13%, marking the region’s largest increase for August since the index’s first records in 2012.

As for the rest of the UK the figures were as follows:

Properties ‘To Let’

  • East Midlands 4.9%
  • North West -1.1%
  • West Midlands -2.6%
  • Yorkshire and Humberside -4.6%
  • East Anglia -4.9%
  • Central England -6.7%

Properties ‘Let’

  • Scotland 1.8%
  • East Midlands -0.5%
  • Wales -0.7%
  • West Midlands -5%
  • London -6.6%
  • North East -8%

The largest declines in this month’s index were made in the South East. Figures for properties ‘To Let’ fell to -27.4% and properties ‘Let’ at -14.1%. Again, the Property Activity Index’s archive data shows us that year on year activity has declined.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: Throughout August we anticipate a slowdown across the UK lettings market. However, the decline in figures this year has been has been far greater than years previous. Moving in to September we would still expect to see figures recover but with the current trend it will be interesting to see how the increase compares to 2018.

Monthly % Changes for August 2019

% Changes for Jun - August 2019

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 19Aug 18Aug 19Aug 18
NATIONAL-11.3-3.2-8.1-1.9
Central England-6.7-4.513-10
East Anglia-4.9-5.2-14.3-8
East Midlands4.919.6-0.57
London-17.4-3.7-6.6-7.4
North East-12.3-7.1-8-8.7
North West-1.1-4.1-17.84.2
Scotland-12.913.11.811.3
South East-27.4-13.6-14.1-5.4
South West-22.4-3.4-12.9-1.4
Wales-21.14.7-0.78
West Midlands-2.6-11.8-5-5.4
Yorks & Humber-4.62.8-14.27.9
New ListingsProperties Let
Jun -
Dec 19
Jun -
Aug 18
Jun -
Aug 19
Jun -
Aug 18
NATIONAL-2.60.4-0.11.4
Central England-3.6-0.62.6-3.2
East Anglia01.32.51.9
East Midlands11.64112.6
London-2.60.70.8-1.5
North East-4.40.33.81.5
North West-22.7-3.811.2
Scotland-1.73.3-0.80.5
South East-6.70.3-2.60.1
South West-8.4-0.9-4.22.5
Wales-5.64.2-2.25.8
West Midlands-0.4-5.13.3-2.2
Yorks & Humber0.6-0.6-2.6-0.3
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