Autumn spike for UK lettings market

The latest data from the Agency Express Property Activity Index has revealed buoyant figures for the UK lettings market in October. Following a three month slump, national month on month figures for properties ‘To Let’ sat at 24.2% and properties ‘Let’ at 8.1%.

Looking at activity across the individual regions recorded by the Property Activity Index, all twelve reported increases in new listings ‘To Let’ and eleven reported increases in properties ‘Let’.

The largest increase in this month’s Index was reported in the North East. Again, following slumber activity during August and September figures bounced with new listings ‘To Let’ at 66.8% and properties ‘Let’ at 12.3%. Year on year figures for the region have also increased.

A particularly robust market was also reported in West Midlands with month on month figures for new listing ‘To Let’ at 38%, marking a record best October for the region.

Other hotspots across the country included:

Properties ‘To Let’

  • Yorkshire and Humberside 45.1%
  • Wales 36.4%
  • Scotland 36.2%
  • South East 23.6%
  • North East 21%
  • Central England 21%
  • London 15.4%

Properties ‘Let By’

  • London 27.9%
  • East Anglia 16.4%
  • South West 13.6%
  • North East 12.3%
  • West Midlands 11.1%
  • Wales 10.2%

The only region to record a decline in this month’s Property Activity Index was the East Midlands. Falling for a second consecutive month, figures for properties ‘Let’ sat at -8%. However, looking back at the index’s historical data year on year figures remain up.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: If we look back at historical data recorded by the Property Activity Index, we can see that a slow down is usually anticipated in October. This month we have seen a spike in activity. However, looking at the figures more closely we can see that the increased number of working days (23 in October over 20 in September) has had some impact on the monthly data and overall the year on year figures remain relatively true to trend.

Monthly % Changes for October 2018

% Changes for Aug - October 2018

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 18Oct 17Oct 18Oct 17
Central England2113.7-5.35
East Anglia5.80.716.4-10.1
East Midlands3.28.5-8-9.7
North East66.817.812.3-14.9
North West211.75.70.3
South East23.615.76.2-0.5
South West11.6-0.713.6-2.3
West Midlands383.611.1-4.5
Yorks & Humber45.117.73.3-6.8
New ListingsProperties Let
Aug -
Jan 18
Aug -
Oct 17
Aug -
Oct 18
Aug -
Oct 17
Central England76.32-0.3
East Anglia-0.2-0.4-2.5-5.9
East Midlands2.36.9-1.5-9.5
North East21.412.50.3-3.6
North West3.83.3-2.50
South East-0.84.72-9.2
South West3.21-2.5-3.1
West Midlands11.92.11.5-3
Yorks & Humber13.572.4-2.7

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