UK lettings market activity heats up in November

The latest data from the Agency Express Property Activity Index has revealed a robust month for the UK lettings market.

National month on month figures for new listings ‘To Let’ sat at 12.6%, and following three consecutive months of decline figures for properties ‘Let’ climbed back to 2.8%. Furthermore, looking back over the index’s historical records, year on year comparisons show figures for both ‘To Let’ and ‘Let’ properties to be greater than those recorded in November 2016.  

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 eight reported increases in properties ‘Let’.

This month’s top performer was the East Midlands, recording buoyant increases in both new listings at 33.3% and properties ‘Let’ at 18.6%. The Property Activity Index’s historical records also highlights that the increase in new listings is the largest for November since 2012.

Of the remaining regions prominent performers included:

Properties ‘To Let’

  • South West 38%
  • South East 5.1%
  • North West 22%
  • Wales 19.9%
  • West Midlands 10.2%

Properties ‘Let By’

  • Wales 15%
  • North East 13.6%
  • Yorkshire & Humberside 12.7%
  • Central England 11.30% 
  • South East 8.9%

The largest declines in this month’s index were recorded in London. Figures for new listings ‘To Let’ in the capital fell to sit at -15.4%, as did figures for properties ‘Let’ for a third consecutive month at -12.3%. Again, historical records show us that the fall in new listings is the largest for November since 2014.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: Following what has been a mixed few months for the UK lettings market, this month’s figures are robust overall and the increase has redressed the balance. As we move in to December where a seasonal slowdown is expected it will be interesting to see how the year end figures fair.

Monthly % Changes for November 2017

% Changes for Sep - November 2017

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
Nov 17Nov 16Nov 17Nov 16
Central England6.7-5.211.3-6.8
East Anglia-2.912-7.36.7
East Midlands33.3-5.118.65
North East-21.215.813.64.2
North West2229.3-3.79.1
South East25.1498.9-1.8
South West38290.5-12.8
West Midlands10.2-4.8-3.21.2
Yorks & Humber53.212.77.1
New ListingsProperties Let
Sep -
Jan 17
Sep -
Nov 16
Sep -
Nov 17
Sep -
Nov 16
Central England74.42.90.7
East Anglia0.70.1-2.9-4
East Midlands16.78.130.3
North East2.610.55.20.5
North West10.410.6-3.81.6
South East11.915.6-1.16.6
South West15.47.9-1.2-4.4
West Midlands2.84.4-2-0.9
Yorks & Humber6.43.7-3.1-2.7

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