UK lettings market figures climb in May 2022

Following a seasonal slowdown in April, May has remained true to trend reporting an increase in activity across the UK rental market.

National month on month figures for new listings ‘To Let’ sat at a robust 8.9% and properties ‘Let’ at 7.2%. Looking back at the Property Activity Index’s historical data we can see this year’s figures starting to climb to pre-Covid heights.

Reviewing activity across the individual regions recorded by the Property Activity Index, 9 of the 12 regions reported increases in new listings ‘To Let’ and 11 reported increases in properties ‘Let’

The biggest increases in this month’s index were reported in the East Midlands, where figures for properties ‘Let’ jumped to 25.7% and new listings at 19.4%. Again, looking back at the index’s historical data we can see that this is the largest increase in activity for the period since 2017.

London also reported robust increases in new listings at 51.9% but figures for properties ‘Let’ fell at -4.30%, and overall figures remained down year on year.

Other top performing regions in this month’s Property Activity Index included:

Properties ‘To Let’

  • Scotland 19.7%
  • South East 19.7%
  • Yorkshire and Humberside 17%
  • Central England 11.9%

Properties ‘Let By’

  • North West 19.5%
  • Wales 18.7%
  • Yorkshire and Humberside 16.2%
  • North East 12.3%
  • South West 9.3%
  • Scotland 9.2%

The largest decline in this month’s index was reported in the North West. Falling for the second consecutive month new listings ‘To Let’ sat at -13.1%.

Commenting on the latest Property Activity Index lettings report, Ben Brookes Managing Director of Agency Express said: 

May was historically a slower month for board movements, but pre-Covid we started to see a new trend emerging. This month we have seen some positive figures across the UK lettings market. They are still lower than those recorded in 2019, but it's good to see activity headed in that direction once again.

Monthly % Changes for May 2022

% Changes for Mar - May 2022

New Listings
% Change over last 12 months vs Previous 12 months

Properties Let
% Change over last 12 months vs Previous 12 months

New Listings Properties Let
May 22 May 21 May 22 May 21
NATIONAL 8.9 4.7 7.2 3.5
Central England 11.9 8.6 4.9 11
East Anglia 2.5 -3.8 0.1 17.8
East Midlands 19.4 11.5 25.7 -14.3
London 51.9 15 -4.3 3.9
North East 0.5 6.5 12.3 17.6
North West -8.4 -0.9 19.5 2.5
Scotland 19.7 3.6 9.2 -2.7
South East 19.7 5.9 1.2 -18.3
South West -6.4 6 9.3 14.3
Wales -3.7 -4.3 18.7 -5.8
West Midlands 3.6 14 1.7 7.4
Yorks & Humber 17 -2.8 16.2 4.8
New Listings Properties Let
Mar -
Aug 22
Mar -
May 21
Mar -
May 22
Mar -
May 21
NATIONAL 5.2 1.4 1 1.2
Central England 5.7 1.2 1.6 1
East Anglia 4.6 0.9 2.5 7.4
East Midlands 4.6 6.4 3.6 -4.9
London 8.4 3.6 1.5 8
North East 10.7 -6.6 6.7 -6
North West -1.6 -1.5 7 -2.6
Scotland 19.7 10.5 5.9 11.6
South East 2.7 -1.1 -3 -3.5
South West -0.3 0.7 -9 -1.1
Wales 4.2 -3 6.2 3
West Midlands 5.8 2.4 2.7 1.2
Yorks & Humber 8.9 -1.7 3.6 -0.3
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