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Year on year declines for Novembers lettings market

Following a buoyant lettings market in October, the latest data from the Agency Express Property Activity Index has revealed a slowdown in activity as we draw closer to the festive period.

National month on month figures for new listings ‘To Let’ sat at -1.6% while figures for properties ‘Let’ fell to -7.2%. Looking back at the index’s historical records, year on year comparisons show Novembers declines to be greater than those recorded in both 2017 and 2016.

Observing performance across the UK, five of the twelve regions recorded by the Property Activity Index reported increases in properties ‘To Let’ and four recorded increases in properties ‘Let’.

The largest increase in this month’s index was recorded in North East with properties ‘Let’ at a robust 33.3%. However, the region also reported the largest decline with new listings ‘To Let’ at -31.3%. The South East followed suit with figures for new listings ‘To Let’ at 19.1% and properties ‘Let’ at -16.5%. Again, looking back at the index’s historical records we can see that year on year figures for the North East are up but  figures for properties 'Let' in the South East have declined.

Of the remaining regions recorded by the index prominent performers included:

Properties ‘To Let’

  • South West 14.3%
  • East Anglia 8.7%
  • East Midlands 7.8%
  • London 2%

 Properties ‘Let By’

  • Yorkshire and Humberside 5.9%
  • North West 1.7%
  • Scotland 0.4%

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: This month we have seen a much steeper decline than usual across the UK lettings market. As now we move in to the December seasonal slowdown we don’t anticipate any increases in activity, so will be interesting to see how the end of year figures stand.

Monthly % Changes for November 2018

% Changes for Sep - November 2018

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 18 Nov 17 Nov 18 Nov 17
NATIONAL -1.6 12.6 -7.2 2.8
Central England -3.8 6.7 -12.3 11.3
East Anglia 8.7 -2.9 -7.5 -7.3
East Midlands 7.8 33.3 -3.8 18.6
London 2 -15.4 -25.2 -12.3
North East -31.3 -21.2 33.3 13.6
North West -5.9 22 1.7 -3.7
Scotland -1.3 8.7 0.4 8.5
South East 19.1 25.1 -16.5 8.9
South West 14.3 38 -6.5 0.5
Wales -4.9 19.9 -13.4 15
West Midlands -19.9 10.2 -9.2 -3.2
Yorks & Humber -16.6 5 5.9 12.7
New Listings Properties Let
Sep -
Apr 18
Sep -
Nov 17
Sep -
Nov 18
Sep -
Nov 17
NATIONAL 5.4 7 -1.9 -1.7
Central England 6.5 7 0.9 2.9
East Anglia 4.6 0.7 -2.2 -2.9
East Midlands -1.1 16.7 -5 3
London 1.6 -5.1 -5.7 -8.6
North East 5.2 2.6 15.3 5.2
North West 2.9 10.4 -3.5 -3.8
Scotland -0.1 -1.2 -3.7 -7.1
South East 11.5 11.9 -2.1 -1.1
South West 9.4 15.4 -4.3 -1.2
Wales 3.8 12.1 -7.4 5.6
West Midlands 6 2.8 0 -2
Yorks & Humber 4.3 6.4 1.9 -3.1
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