Summer spike for UK lettings market

The latest data from the Agency Express Property Activity Index has revealed increase in activity across the UK lettings market in July.

National month on month figures for new listings ‘To Let’ sat at 8.5% and properties ‘Let’ at 6%. Looking back over the index’s historical records, while lettings market activity was generally greater throughout 2018 this month’s figures have exceeded those recorded 12 months previous.

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

The East Midlands sat at the top of this month’s leader board with new listings at a robust 46.7% and properties 'Let' at 23.3%. East Anglia followed suit, new listings sat at 27.4% and properties 'Let' at 29.6%. Both regions reported record best figures for July.

Other prominent performing regions included:

Properties ‘To Let’

  • South East 16.4%
  • Yorkshire & Humberside 16.1%
  • South West 10.8%
  • Wales 10.8%

 

 

Properties ‘Let’

  • North East 17.2%
  • Yorkshire & Humberside 7%
  • South West 6.7%
  • London 5.8%
  • Wales 4.3%
  • South East 4%

The largest declines in this month’s Property Activity Index were recorded in Central England. New listings fell for a second consecutive month at -0.50% while properties 'Let' fell to -11%. However, over a three-month rolling period figures were greater at 3.9% and 0.1% and year on year activity remains on trend.  

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: July has been an unexpected month for the UK lettings market. Usually we would see slower movement throughout the summer holidays but this month’s activity, which is somewhat reflective of an increase in our customer base has been buoyant. Looking forwards, while we expect to see further increases in August, we don’t envisage a real pickup in activity until September. It will be interesting to see if the current rate of activity continues. 

Monthly % Changes for July 2019

% Changes for May - July 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
Jul 19Jul 18Jul 19Jul 18
NATIONAL8.5-2.76-1.4
Central England-0.5-8.9-11-5.4
East Anglia27.45.229.610.2
East Midlands46.7-12.623.33.1
London-6.5-13.35.8-8.3
North East2.615.217.234.2
North West-0.84.12.116.3
Scotland-6.4-8.85.11.7
South East16.464-0.5
South West10.8-2.36.7-5.3
Wales9.7-2.54.3-3.7
West Midlands4.1-1.9-1.8-1
Yorks & Humber16.1-11.87-19.8
New ListingsProperties Let
May -
Sep 19
May -
Jul 18
May -
Jul 19
May -
Jul 18
NATIONAL4.42.64.52.7
Central England3.94.60.14.2
East Anglia6.63.48.52.9
East Midlands13.6-1.8140.7
London9.4-1.96.73.1
North East1.26.58.36.2
North West-13.687.9
Scotland1.30.73.61.1
South East3.54.50.40.1
South West5.44.64.62.8
Wales2.21.46.32.7
West Midlands43.16.48.1
Yorks & Humber5.5-0.7-1-3.9
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