The South East buck the seasonal trend in Novembers lettings market

The latest data from the Agency Express Property Activity Index, has with no surprise reported a slowdown in activity on the build up to Christmas.

National figures for new listings ‘To Let’ fell at -3.7% as did properties ‘Let’ at -6.7%. Much like this month’s sales data the index also revealed that year on year figures have continued to decline.  

Looking at the twelve individual regions recorded by the Property Activity Index, 6 reported increases in new listings ‘To Let’ and only 2 reported increases in properties ‘Let’.

Bucking the seasonal trend, the South East sat at the top of this month’s leader board with new listings ‘To Let’ at a robust 20.3% and properties ‘Let’ reported a year on year increase at 9.4%.

Other top performers in this month’s index included:

Properties ‘To Let’

  • Wales 18.6%
  • East Anglia 7%
  • Scotland 3.4%
  • South West 1.1%
  • West Midlands 0.5%

Properties ‘Let By’

  • North West 15.1%

The largest declines in this month’s index were recorded in the East Midlands. Falling for a second consecutive month, new listings ‘To Let’ sat at -10.9% while properties ‘Let’ fell to -28.5%, marking the region’s largest month on month decline for November since the Index’s first records in 2012.

Commenting on the Property Activity Index Lettings Report, Ben Brookes Managing Director of Agency Express said:

During November we typically see a seasonal slowdown, but this year’s figures have undisputedly been affected by Lockdown 2 and the general caution across the nation during the period. We have now entered the downward course to Christmas where activity really starts to holt, but with COVID vaccines on the horizon and a predicted surge in the market come January, we hope to see a bounce in activity.

Monthly % Changes for November 2020

% Changes for Sep - November 2020

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 20 Nov 19 Nov 20 Nov 19
NATIONAL -3.7 5.3 -6.7 -2.9
Central England -12.6 -1.6 -3.3 -8.7
East Anglia 7 17 -10.4 -9
East Midlands -10.9 -7.4 -28.5 -11.3
London -7 -3.4 -6 -17.6
North East -21.3 -15.1 -34.3 0.7
North West -24.5 4.1 15.1 5.6
Scotland 3.4 -3.2 -27 -3.9
South East 20.3 38.4 9.4 0.6
South West 1.1 -8.6 -5.2 10.9
Wales 18.6 8.8 -2.5 -10.3
West Midlands 0.5 10.9 -20.3 2.9
Yorks & Humber -17.1 -0.2 -7.1 -1.5
New Listings Properties Let
Sep -
Oct 20
Sep -
Nov 19
Sep -
Nov 20
Sep -
Nov 19
NATIONAL 4.7 8 -2.3 -1.1
Central England 4.3 6.9 -2.9 -3.5
East Anglia 2.1 9.5 -3 1.5
East Midlands -2 -3.8 -6.8 -5.2
London 7.1 1.6 -0.7 -2.7
North East -3 0 -8.3 -9.9
North West 3.7 6.4 2.9 5.4
Scotland -3.4 1.4 -12.9 -7
South East 14.7 25 -0.7 0.8
South West 6 11.1 -6 0.9
Wales 0.9 9.4 -1.5 -2.3
West Midlands 10.8 8.3 0.5 -2.4
Yorks & Humber 3.1 2.7 0.2 -2.2
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