Pre Christmas spike for UK lettings market

The latest data from the Agency Express Property Activity Index has revealed a surprisingly buoyant November for the UK lettings market.

National month on month figures for new listings ‘To Let’ sat at 5.3% while figures for properties 'Let' saw just a marginal decline at -2.9%.

Furthermore, looking back over the index’s historical records, comparisons show figures for both new listings ‘To Let’ and properties ‘Let’ to be greater than those recorded in November 2018.

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

The largest increase in this month’s index was recorded in South East with new listings ‘To Let’ at a robust 38.4%, marking the largest increase for the month since 2017.  Figures for properties ‘Let’ also saw a marginal increase compared to years previous, at 0.6%.

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

Properties ‘To Let’

  • East Anglia 17%
  • West Midlands 10.9%
  • North West 4.1%

Properties ‘Let By’

  • South West 10.9%
  • North West 5.6%
  • West Midlands 2.9%

The largest decline in this month’s Property Activity Index was recorded in the capital with figures for properties ‘Let’ at -17.6%. The North East followed suit with figures for new listings ‘To Let’ at -15.1%. However, the declines in both regions are less than those made in 2018.

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 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 yea rend figures fair.

 

 

Monthly % Changes for November 2019

% Changes for Sep - November 2019

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 19Nov 18Nov 19Nov 18
NATIONAL5.3-1.6-2.9-7.2
Central England-1.6-3.8-8.7-12.3
East Anglia178.7-9-7.5
East Midlands-7.47.8-11.3-3.8
London-3.42-17.6-25.2
North East-15.1-31.30.733.3
North West4.1-5.95.61.7
Scotland-3.2-1.3-3.90.4
South East38.419.10.6-16.5
South West-8.614.310.9-6.5
Wales8.8-4.9-10.3-13.4
West Midlands10.9-19.92.9-9.2
Yorks & Humber-0.2-16.6-1.55.9
New ListingsProperties Let
Sep -
Jan 19
Sep -
Nov 18
Sep -
Nov 19
Sep -
Nov 18
NATIONAL85.4-1.1-1.9
Central England6.96.5-3.50.9
East Anglia9.54.61.5-2.2
East Midlands-3.8-1.1-5.2-5
London1.61.6-2.7-5.7
North East05.2-9.915.3
North West6.42.95.4-3.5
Scotland1.4-0.1-7-3.7
South East2511.50.8-2.1
South West11.19.40.9-4.3
Wales9.43.8-2.3-7.4
West Midlands8.36-2.40
Yorks & Humber2.74.3-2.21.9
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