Yearly Round-Up 2018

With 2018 behind us it is time to reflect on the events and figures that have shaped the UK lettings market in the past 12 months.

January & February

We saw a buoyant start to 2018, national month on month figures for properties ‘To Let’ sat at a record 60.9%, while properties ‘Let’ remained true to trend at 57.7%. However, the Property Activity Index’s historical data did highlight a slight slowdown in activity year on year.

As we moved in to February activity dropped with figures for new listings ‘To Let’ at -17.4% and properties ‘Let’ at - 0.8%. Again, looking back over the index’s historical data, records showed greater levels of activity in years previous. It also revealed that figures for properties ‘Let’ had fallen for the first time in four years and that the decline in supply was the largest for February since the indexes first records.

March & April

In March and April we witnessed mixed activity across UK lettings market. March saw a small incline in activity with new listings at 13.1% and properties ‘Let’ at 4.8%. While March did see some month on month increases, yearly figures did indicate greater activity in the market during March 2017, where the supply of new listings sat at 16.4% and properties ‘Let’ at 12.2%.

April's data revealed another downturn, figures for new listings ‘To Let’ fell to -9.4% and properties ‘Let’ to -9.1%.

May & June

During May figures for new listings crept back to 3.6% while properties ‘Let’ reached 2%. However, over a three-month rolling period ‘Let’ figures remained down at -0.9% and historical records showed greater levels of activity in years previous.

As we moved in to June numbers continued to increase, national month on month figures for properties ‘Let’ rose to 7.4% as did figures for new listings ‘To Let’ at 7.8%.

July to September

Throughout July and August the UK rental market typically sees a slowdown in activity and 2018’s figures remained true to trend. July’s figures for properties ‘To Let’ fell to -2.7% and properties ‘Let’ to -1.4%. However, the Property Activity Index’s historical data showed the decline in ‘To Let’ properties to be less than figures recorded in 2017, where new listing sat at -9.00%. August's figures followed suit with new listings ‘To Let’ sitting at -3.2% and properties ‘Let’ at -1.9%.

The downturn in activity continued in to September where usually we would experience a spike in activity. New listings ‘To Let’ fell to -4.2% and properties ‘Let’ to -6%.

October & November

Mixed market activity was again witnessed throughout October and November. Following a three-month slump, figures bounced at a robust 24.2% in new listing ‘To Let’ while figures for properties ‘Let’ rose to 8.1%. October’s data also revealed that all 12 regions recorded by the Index reported increases in both new listings and properties ‘Let’

November saw a drop in activity as we drew closer to the festive period with new listing falling to -1.6% and properties ‘Let’ at -7.2%. Year on year comparisons also showed November's declines to be greater than those recorded in both 2017 and 2016.

December

The latest data from the Agency Express Property Activity Index has as expected revealed declines in December’s market. Remaining true to trend new listings ‘To Let’ sat at -38.6% However and properties ‘Let’ at -33.5%.

Commenting on the latest index results, Stephen Watson, Managing Director of Agency Express said:

As the UK’s largest estate agency board service provider we are the first to witness growth in the UK property market. The services we deliver are closely tracked and monitored via our estate agency board management system Signmaster3. We collect board movement data 24hrs a day 7 days a week, from a property being placed on the market to completion of sale. As a result, we are able to share this information with you and compare what is happening on the streets to what is being reported by financial institutions. In 2018 we witnessed a slower pace across the UK lettings market and the Property Activity Index has also highlighted a decline in activity year on year.

 

 

Monthly % Changes for December 2018

% Changes for Oct - December 2018

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
Dec 18Dec 17Dec 18Dec 17
NATIONAL-38.6-42.1-33.5-34.8
Central England-44.9-41.9-22.3-39.6
East Anglia-39-22.5-36.4-32.7
East Midlands-35.1-50-37.1-14.1
London-45.7-9.7-28.5-13
North East-33.6-48.6-56.4-45.3
North West-32.3-55.6-36-34.5
Scotland-47.6-52.2-37-45.4
South East-44.5-42.1-32.6-32.6
South West-41.2-46.6-39.3-39.4
Wales-44.9-50.9-24.9-35.8
West Midlands-37.4-38.5-31.9-41.6
Yorks & Humber-15.8-42.3-28.9-38.9
New ListingsProperties Let
Oct -
Mar 18
Oct -
Dec 17
Oct -
Dec 18
Oct -
Dec 17
NATIONAL-7.2-9.2-10.8-12.4
Central England-10.6-8.8-12.8-9.1
East Anglia-9.3-8.1-9.7-16.1
East Midlands-8.8-7.8-15.8-2.7
London-10.8-8.2-9.8-10.5
North East-6.3-16.8-9.6-16.7
North West-6.8-13.8-9.9-12.4
Scotland-8-13.4-11.1-16.3
South East-5-4.5-13.7-8.8
South West-7.4-8-11.1-13.7
Wales-7.8-10.1-9.3-12.7
West Midlands-8.9-9.4-10-16
Yorks & Humber0.5-8.4-7.1-12
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