The UK letting market slows for the summer

Following buoyant market activity in June, the latest data from the Agency Express Property Activity Index has revealed a slowdown across the UK lettings market. National month on month figures for properties ‘To Let’ sat at -2.7% while properties ‘Let’ sat at -1.4%. However, the index’s historical data shows the decline in ‘To Let’ properties to be less than figures recorded in 2017, where new listing sat at -9.00%.

Observing activity across the twelve regions recorded by the Property Activity Index, four reported increases in new listings ‘To Let’ and five reported increases in properties ‘Let’

The North East sat at the top of this month’s leader board. Following a slowdown in June the region bounced back with new listings at 15.2% and properties ‘Let’ at a robust 34.2%. The Property Activity Index’s historical data also shows the increase to be the largest for the month since 2015.

Other prominent performing regions included:

Properties ‘To Let’

  • South East 6%
  • East Anglia 5.2%
  • North West 4.1%

Properties ‘Let’

  • North West 16.3%
  • East Anglia 10.2%
  • East Midlands 3.1%
  • Scotland 1.7%

The largest declines in this month’s Property Activity Index were made in Yorkshire and Humberside. Figures for properties ‘To Let’ fell at -11.8% as did properties ‘Let’ at -19.8%. The drop-in activity marked the region’s largest month on month decline for July since the index’s first records in 2012. London followed suit with less rental properties hitting the market than twelve previous at -13.3%.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: This month we have seen slower movement throughout UK lettings market but declines are expected during the summer holiday period. While we do expect to see some increases in August we don’t envisage a real pickup in activity until September.

Monthly % Changes for July 2018

% Changes for May - July 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
Jul 18Jul 17Jul 18Jul 17
Central England-8.9-23.3-5.4-1.4
East Anglia5.23.410.220.8
East Midlands-12.6-
North East15.
North West4.1-3.616.3-3.1
South East6-12.7-0.58.4
South West-2.3-3.9-5.30.9
West Midlands-1.9-9.7-113.6
Yorks & Humber-11.8-8.3-19.8-6.8
New ListingsProperties Let
May -
Jan 18
May -
Jul 17
May -
Jul 18
May -
Jul 17
Central England4.
East Anglia3.
East Midlands-1.8-
North East6.
North West3.
South East4.
South West4.
West Midlands3.1-
Yorks & Humber-0.71.7-3.91.4

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!