Autumn spike for UK lettings market with slow winter ahead

The latest data from the Agency Express Property Activity Index, has reported the customary month on month increase in activity across the UK lettings market during October. National figures for new listings ‘To Let’ sat at 16.3%, while properties ‘Let’ sat at just 2.1%. However, this month’s data also showed us a decline in activity year on year when compared with the same month in 2018; New listings sat at 24.2% and figures for properties ‘Let’ at 8.1%.

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

The largest increase in this month’s Index was reported in the South West with new listings at 39.4, marking a record best October for the region. Central England followed suit. Following 4 months of consecutive decline figures for new listings bounced back at 25%.

Other hotspots across the country included:

Properties ‘To Let’

  • Yorkshire & Humberside 22.3%
  • South East 17.2%
  • Scotland 16.9%
  • West Midlands 15.6%
  • North West 15%
  • East Midlands 10.6%
  • London 8.8%

Properties ‘Let By’

  • Wales 20.8%
  • North West 14%
  • East Midlands 9.9%
  • London 9%
  • East Anglia 5.8%                                   

The largest decline in this month’s Property Activity Index was made in the North East. Falling for a third consecutive month, figures for properties ‘Let’ sat at -18.7%. The Property Activity Index also highlighted year on year declines for the region in both new listings ‘To Let’ and properties ‘Let’

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

During October we generally see a pick up in pace and this month has remained true to trend. However, activity is slower than twelve months previous. As as we collate November’s data and move in to December we will start to see the beginning on the seasonal decline, which will most likely be further impacted by the upcoming General Election.

 

 

Monthly % Changes for October 2019

% Changes for Aug - October 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
Oct 19Oct 18Oct 19Oct 18
NATIONAL16.324.22.18.1
Central England25217-5.3
East Anglia1.75.85.816.4
East Midlands10.63.29.9-8
London8.815.4927.9
North East4.466.8-18.712.3
North West1521145.7
Scotland16.936.2-2.83.9
South East17.223.6-1.46.2
South West39.411.6-4.213.6
Wales-3.236.420.810.2
West Midlands15.638-1.111.1
Yorks & Humber22.345.1-11.53.3
New ListingsProperties Let
Aug -
Dec 19
Aug -
Oct 18
Aug -
Oct 19
Aug -
Oct 18
NATIONAL2.15.2-3-0.1
Central England5.673.52
East Anglia2-0.2-0.4-2.5
East Midlands0.42.3-1.5-1.5
London-3.9-0.41.41
North East1.121.4-11.80.3
North West4.83.8-3.5-2.5
Scotland-2.34.8-4.8-0.1
South East-0.5-0.8-4.62
South West7.23.2-7.2-2.5
Wales-1.37.71.2-0.2
West Midlands3.711.9-4.91.5
Yorks & Humber1.213.5-6.72.4
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