UK rental market sees robust activity in November

Following a decline in figures during October, Novembers data from the Agency Express Property Activity Index has shown month on month growth across the UK rental market. 

National figures for properties coming on to the market sat at a robust 13.9% while properties ‘Let’ recorded only a marginal decline to sit at -1%. The increase in this month’s figures appears consistent with recent reports from the Council of Mortgage Lenders who confirmed that Landlords borrowed £3bn in October,  a 7% increase month-on-month but was still down on figures recorded in 2015.

Across the rest of the UK the buoyant trend continued. Nine of the twelve regions recorded by the Property Activity Index reported increases in new properties ‘To Let’ and seven reported increases in properties ‘Let’.

This month’s top performer was the North West with new listings ‘To Let’ sitting at +29.3% and properties ‘Let’ at 9.1%, marking the region’s largest month on month increase for November since 2013.

Of the remaining regions, prominent performers included:

Properties ‘To Let

  • South East +49%
  • South West +29%
  • Wales +20.5%
  • North East +15.8%
  • East Anglia +12%

Properties ‘Let By’

  • Yorkshire & Humberside +7.1%
  • East Anglia +6.7%
  • East Midlands +5%

The largest declines in this month’s Property Activity Index were made in Central England.  Figures for new listings ‘To Let’ sat at -5.2% and figures for properties ‘Let’ sat at -6.8%.  However, over a three-month rolling period figures remained resilient with new listings sitting at 4.4% and ‘Let’ properties at 0.7%.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said:  A robust come back of the UK rental market this month. Following what was an unexpectedly slow October, the increase in this month’s figures has redressed the balance. Now we move in to December where a seasonal slowdown is expected it will be interesting to see how the year end figures stand.

Monthly % Changes for November 2016

% Changes for Sep - November 2016

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
Nov 16 Nov 15 Nov 16 Nov 15
NATIONAL 13.9 3.4 -1 -6.2
Central England -5.2 -7.7 -6.8 -8.7
East Anglia 12 -12.2 6.7 -13.1
East Midlands -5.1 1.6 5 -9.2
London 4.1 16 -11.1 -9.8
North East 15.8 -24.9 4.2 -13.7
North West 29.3 7.2 9.1 -7
Scotland 6.2 -8.6 0.4 -11.6
South East 49 12.5 -1.8 16.9
South West 29 35.6 -12.8 -7.2
Wales 20.5 -20.4 -1.1 10.3
West Midlands -4.8 0.9 1.2 -13.1
Yorks & Humber 3.2 13.6 7.1 -10.8
New Listings Properties Let
Sep -
Dec 16
Sep -
Nov 15
Sep -
Nov 16
Sep -
Nov 15
NATIONAL 6 6.3 -1 -3.2
Central England 4.4 10.1 0.7 -3.5
East Anglia 0.1 -1.1 -4 -3.6
East Midlands 8.1 15.1 0.3 2.7
London 1.2 3.6 -4.5 -7.7
North East 10.5 0.9 0.5 -2
North West 10.6 7 1.6 0.7
Scotland 4.1 -4.1 2.7 -10.4
South East 15.6 7.7 6.6 0.8
South West 7.9 18.7 -4.4 -4.3
Wales 4 1.4 -3.9 -0.5
West Midlands 4.4 3.4 -0.9 -8.5
Yorks & Humber 3.7 7.8 -2.7 -1.9
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