Regional hot spots for UK lettings market in March

The latest data from the Agency Express Property Activity Index has revealed an increase in activity following a slowdown across the UK property marketing in February.

National month on month figures for new listings ‘To Let’ sat at 12.6% and properties ‘Let’ 8.3%. Looking back over the index’s historical records, we can see that ‘To Let’ figures have remained largely on trend when compared to 12 months previous, but ‘Let By’ figures have increased.

Reviewing activity across the individual regions recorded by the index,10 of the 12 regions reported increases in both properties ‘To Let’ and ‘Let By’.

Scotland sat at the top on this month’s leader board with figures for new listings on trend at 37.2% and properties ‘Let’ at a robust 34.7%.The month on month increase in activity marked a record best March for the region.

Following suit, buoyant activity was also recorded across the West Midlands with new listings at 20.1%. Like Scotland the increase marked a record best month for the region.

Other regional hotspots in this month’s index included:

Properties ‘To Let’

  • Wales 35.6%
  • South West 21%
  • West Midlands 20.1%
  • Central England 19.4%
  • North West 14.2%

Properties ‘Let By’

  • Central England 21.2%
  • West Midlands 19.4%
  • East Midlands 17.4%
  • North West 13.1%

The largest month on month decline in February’s index was recorded in the North East with figures for new listings ‘To Let’ falling to -7.1%. Again, looking back at the index’s historical records we can see that the drop in figures is the greatest on record for the month since 2015.

Commenting on the latest Property Activity Index lettings report, Stephen Watson Managing Director of Agency Express said: This month’s Property Activity Index has remained by and large true to trend. A few regional pockets have reported record bests, but on a whole demand continues to be greater than supply. As we now move in to April and the Easter holidays we would expect a to see a seasonal dip.

Monthly % Changes for March 2019

% Changes for Jan - March 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
Mar 19Mar 18Mar 19Mar 18
Central England19.41221.22
East Anglia694.75.5
East Midlands2.89.517.4-15.6
North East-
North West14.215.613.121.6
South East-0.8111.8-3.3
South West2117.94.69.6
West Midlands20.15.519.4-2.5
Yorks & Humber08.34.86.7
New ListingsProperties Let
Jan -
Jan 19
Jan -
Mar 18
Jan -
Mar 19
Jan -
Mar 18
Central England1912.716.214.6
East Anglia13.66.515.916.2
East Midlands11.312.720.44.3
North East7.724.91618.7
North West9.915.913.916.2
South East11.31317.717.8
South West12.214.717.115.6
West Midlands17.711.317.313.6
Yorks & Humber1.910.410.915.4

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