Regional growth for UK rental market

Following buoyant market activity in August, the latest data revealed by the Agency Express Property Activity Index has shown further growth for the UK rental market.  New listings ‘To Let’ sat at 1.3% and properties ‘Let’ at 4.4%.

However, looking at data recorded over a three month rolling period figures for properties ‘Let’ remained down at -1%, on par with figures recorded from the same period in 2015. 

Across the rest of the UK, seven of the twelve regions recorded by the Property Activity Index reported increases in both new listings ‘To Let’ and properties ‘Let’.  

Prominent performing regions included:

Properties ‘To Let’

  • North East 19.6%
  • Yorkshire & Humberside 12.60%
  • East Midlands 12.30%
  • Central England 7.60%

Properties ‘Let By’

  • West Midlands 17.70%
  • Wales 13.80%
  • Central England 11.40%
  • South East 10.10%

This month’s top performer was Central England, recording increases in both in new listings ‘To Let’ at 7.6% and properties ‘Let’ at 11.4%. Similarly, over a three month rolling period figures for new listings were down at -2.1%, and again on par with those recorded in 2015.  

The West Midlands also reported a record month for properties ‘Let’. Figures sat at a robust 17.7% and marked the region’s largest increase for September since the index’s first records in 2012.

The largest declines in this month’s Property Activity Index were made in East Anglia.  Following a record best August, figures for new listings ‘To Let’ sat at -11.2% and properties ‘Let’ at -1.4%. The decline in figures were the region’s largest for September since 2013. 

Following suit, Scotland also recorded notable declines. Falling for a second consecutive month new listings sat at -4.2% and properties ‘Let’ at 3.3%, notably down on 2015’s ‘Let’ figures of 3.6%.

Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said: This month we have witnessed some growth across the UK lettings market. One or two regional pockets reported record bests while others performed consistently. However, year on year figures are still recovering from the ‘Buy to Let’ fallout.

Monthly % Changes for September 2016

% Changes for Jul - September 2016

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
Sep 16Sep 15Sep 16Sep 15
Central England7.68.211.4-1.5
East Anglia-11.28.1-1.414.5
East Midlands12.39.8-5.219.5
North East19.610.4-9.715.4
North West-
South East-1.910.510.16.5
South West2.25.80.4-3.6
West Midlands5.8-6.417.70.4
Yorks & Humber12.63.20.2-7.3
New ListingsProperties Let
Jul -
Jan 16
Jul -
Sep 15
Jul -
Sep 16
Jul -
Sep 15
Central England-2.1-1.72.7-2.1
East Anglia-1.6-5.9-2.90.2
East Midlands1.9-4.1-3.84.3
North East-1.60.8-4.16.5
North West2.10.8-0.10.9
South East-0.2-4.4-0.31.9
South West0.7-1-2.2-3.4
West Midlands-0.1-4.54.9-2.6
Yorks & Humber2.7-3-2.5-5

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