Momentum for Mays lettings market

Following a slumber market in April, the latest lettings data from the Agency Express Property Activity Index has shown nationwide increases in both ‘To Let’ and ‘Let’ properties.

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

Looking at the individual regions recorded by the Property Activity Index, eight of the twelve regions reported increases in properties ‘To Let’ and six reported increases in properties ‘Let’.

Regional hotspots included:

Properties ‘To Let’

  • South West 14.50%
  • West Midlands 14.40%
  • Central England 12.60%
  • London 11.30%
  • North East 10.90%

 Properties ‘Let By’

  • West Midlands 31.00%
  • Central England 14.00%
  • Scotland 13.50%
  • London 7.10%
  • North East 3.40%

The West Midlands sat at the top of this month’s overall leader board, recording robust figures in both new listings ‘To Let’ at 14.4% and properties ‘Let’ at 31%. Central England followed suit with new listings sitting at 12.6% and properties ‘Let’ at 14%. The spike in activity marked a record best May for the region.

The largest declines were recorded by the North West and London. Falling for a second consecutive month, figures for properties ‘Let’ in the North West fell to -7.5%. In London the number of new listing fell for the first time since February sitting at -11.3%. Again, historical data shows greater levels of activity for both regions 2017.

Commenting on the latest Property Activity Index lettings report, Stephen Watson Managing Director of Agency Express said: This month we have seen some overall growth for the UK lettings market with some regional pockets recording record bests. As we move in to June which is traditionally a buoyant month we would expect to see a further increase in pace.

Monthly % Changes for May 2018

% Changes for Mar - May 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
May 18May 17May 18May 17
NATIONAL3.615.8213.8
Central England12.616.41411.6
East Anglia0.614.6-5.7-0.9
East Midlands0.910.81.421.8
London-11.323.77.112
North East10.925.63.42.3
North West-2.211.5-7.59.6
Scotland51113.52.2
South East-2.629.2-5.431.4
South West14.521.6-0.917.9
Wales-3.823.5-1.313.3
West Midlands14.4-2.43123.4
Yorks & Humber2.410.4-4.211.9
New ListingsProperties Let
Mar -
Jul 18
Mar -
May 17
Mar -
May 18
Mar -
May 17
NATIONAL1.92.7-0.9-0.2
Central England7.44.94.31.5
East Anglia-0.23.5-3.5-0.9
East Midlands-32.2-7.65.4
London-0.46.20-0.3
North East10.24.78.3-1.2
North West0.9-0.2-3.1-2
Scotland5.40.11.13.6
South East-1.96.5-7.3-4.9
South West3.54.54.40.3
Wales-0.80.8-6.6-2.5
West Midlands4.5-2.93.34
Yorks & Humber1.91.40.40.9
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