Growth in June for UK lettings market

After a slump in the UK lettings market in May, the latest national data revealed by the Agency Express Property Activity Index showed month-on-month increases in both ‘To Let’ and ‘Let’ properties during June.

National figures for properties ‘Let’ saw a robust increase sitting at 9.6%, while new listings ‘To Let’ sat at 1.8%.

Even though this month we did witness some buoyancy across the market, the Property Activity Index’s historical data shows us year-on-year supply has fallen. 

New listings ‘To let’

Properties ‘Let’

June 2016  1.8%
June 2015  15.1%
May 2016  -11.9%
May 2015  -0.1%
April 2016  12.5%
April 2015 -11.4%

June 2016  9.6%
June 2015  13%
May 2016  -11.1%
May 2015  1.2%
April 2016  8.6%
April 2015  -15.9%

In recent reports from the Council of Mortgage Lenders it was also stated that landlords borrowed £2.6bn in May which was down 4% year-on-year. Looking at lettings activity across the rest of the UK, seven of the twelve regions recorded by the Property Activity Index reported increases in new listings ‘To Let’ and ten recorded increases in properties ‘Let’.

Some of this month’s most prominent performing regions included:

Properties ‘To Let’

  • North East 26.50%
  • East Midlands 13.40%
  • London 10.30%
  • Yorkshire & Humberside 8.30%
  • South  East 5.20%

Properties ‘Let By’

  • London 24.20%
  • South West 19.20%
  • Yorkshire & Humberside 18.60%
  • Wales 15.10%
  • East Midlands 14.60%

This month’s top performer was the North East returning record best figures for June. New listings ‘To Let’ sat at 16.5% and properties ‘Let’ at 13%. The largest declines reported in this month’s index was recorded by Central England, properties ‘To Let’ fell for a second consecutive month to sit at -5.9% as did figures for properties ‘Let’, sitting at -1.60%. However looking over a three month rolling period figures for new listing ‘To Let’ remained resilient, sitting at 3.5%.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said:  This month we have seen some regional growth for the UK lettings market with one or two pockets recording record bests. However year-on-year national figures are down. As we move in to July, traditionally a buoyant month, it will be interesting to see if the market picks up or continues at the same pace.

Monthly % Changes for June 2016

% Changes for Apr - June 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
Jun 16Jun 15Jun 16Jun 15
NATIONAL1.815.19.613
Central England-5.93.5-1.612.3
East Anglia-0.724.810.119.1
East Midlands13.434.214.6-3
London10.349.824.228.4
North East26.519.81312.5
North West-5.417.412.310.7
Scotland-8.3-10.54.65.8
South East5.220.5-14.44.6
South West4.3-1.519.29.5
Wales-9.91615.1-5.4
West Midlands1.45.912.918.9
Yorks & Humber8.315.818.623.4
New ListingsProperties Let
Apr -
Aug 16
Apr -
Jun 15
Apr -
Jun 16
Apr -
Jun 15
NATIONAL0.30.71.9-1.4
Central England3.5-0.4-1.8-1.3
East Anglia-1.35.41.6-1.2
East Midlands0.82.64-6.2
London4.515.43.32.9
North East1.47.32.77.6
North West-0.70.43.1-4.6
Scotland0.4-7.24.72.9
South East-2.74.10.1-3.7
South West1.1-5.73.4-3.8
Wales-2.7-4.24.1-6
West Midlands-0.1-5.91.61.4
Yorks & Humber12.20.71.3
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