Mixed results for October's lettings market

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

Following similar trends to those recorded by the Index in September national month on month figures for new listings ‘To Let’ saw a further increase at 7.2%, while figures for properties ‘Let’ fell for a third consecutive month at -4.9%. However, looking back over the Property Activity Index’s historical records year on year comparisons showed the overall decline in properties ‘Let’ to be marginally less than twelve months previous.

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

A particularly buoyant market was reported in Central England, recording increases in both new listings at 13.7% and properties ‘Let’ at 5.00%.

The largest increase in this month’s Index was reported in the North East. Figures for new listings ‘To Let’ sat at a robust 17.80% but in contrast the region also recorded largest decline in properties ‘Let’ sitting at -14.90%.

Of the remaining regions prominent performers included:

Properties ‘To Let’

  • Yorkshire and Humberside 17.70%
  • South East 15.70%
  • Wales 10.90%
  • East Midlands 8.50%
  • Scotland 8.30%

Properties ‘Let By’

  • North West 0.30%

The only region in this month’s Index to record declines in both new listings and properties ‘Let’ was the South West. Figures for new listings fell from 8.40% in September to -0.70% and figures for properties ‘Let’ fell for a third consecutive month at -2.3%.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said:  As we look back at historical data recorded by the Property Activity Index we can see that a decline in ‘Let’ properties is characteristic for October. However, we have seen an early slowdown in ‘Let’ board movements and if trend dictates it will continue until the New Year. So, while year on year figures are still relatively on par the end of year figures may look somewhat different. 

Monthly % Changes for October 2017

% Changes for Aug - October 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
Oct 17Oct 16Oct 17Oct 16
Central England13.712.45-1.5
East Anglia0.70.7-10.1-15.7
East Midlands8.520.4-9.71.3
North East17.8-2.2-14.97.9
North West1.76.10.3-8.8
South East15.70-0.512.7
South West-0.7-6.3-2.3-1
West Midlands3.613.4-4.5-18.3
Yorks & Humber17.7-3.6-6.8-14.1
New ListingsProperties Let
Aug -
Jan 17
Aug -
Oct 16
Aug -
Oct 17
Aug -
Oct 16
Central England6.30.5-0.3-0.1
East Anglia-0.4-3.3-5.9-3.8
East Midlands6.96-9.5-4.9
North East12.51.4-3.65.2
North West3.30.20-1.5
South East4.70.6-9.25.7
South West1-0.7-3.1-0.3
West Midlands2.11.3-3-2.7
Yorks & Humber7-1.2-2.7-6.5

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