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Thank you to all our clients for their continued patience during this time.

September slump for UK lettings market in 2020

The latest data from the Agency Express Property Activity Index, has revealed further declines across the UK lettings market for a second consecutive month. National month on month figures for properties ‘To Let’ sat at -2.3% and figures for properties ‘Let’ on par at -2.40%.

While historically September can be a variable month, the Property Activity Index’s historical records show that the overall year on year figures continue to decline.

Observing activity across the twelve individual regions recorded by the index, 6 regions reported increases in new listings ‘To Let’ and 5 reported increases in properties ‘Let’.

Wales was this month top performing region with figures for properties ‘Let’ at a robust 20.8%. Figures for new listings in the region sat at 3.1%, but according to the index’s historical records new listings were substantially higher in 2019 at 26.1%.

Other regions to buck the trend included:

Properties ‘To Let’

  • Yorkshire & Humberside 10.6%
  • East Midlands 5.6%
  • London 3.9%
  • Wales 3.1%
  • West Midlands 3%

Properties ‘Let’

  • East Midlands 10.1%
  • East Anglia 4.9%
  • Yorkshire and Humberside 2.8%
  • North East 0.8%

The largest overall declines in this month’s index were made in Scotland. New listings ‘To Let’ fell for a second month at -13.3%, while properties ‘Let’ sat at -10.5%. However, the Property Activity Index’s three-monthly rolling data shows a more resilient market with properties ‘Let’ at 27% and new listings at 12%.

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

This month we have witnessed a continuation of August's slower movement across the UK lettings market. While some regions continue to report positively month on month, national year on year figures remain lower than those recorded in 2019. As we now move into October we hope to see an increase activity before the winter slowdown commences. 

Monthly % Changes for September 2020

% Changes for Jul - September 2020

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 20Sep 19Sep 20Sep 19
NATIONAL-2.32.7-2.4-2.6
Central England-0.8-0.5-1.4-8.1
East Anglia-11.29.54.99
East Midlands5.6-12.710.1-12.5
London3.9-0.2-5.82
North East-5.312.80.8-9.7
North West1.30.4-11.7-3
Scotland-13.3-7.9-10.5-13.2
South East-9.515.9-1.83.2
South West-5.210.1-14.1-3.4
Wales3.126.120.8-13.8
West Midlands3-1.7-5.8-8.3
Yorks & Humber10.6-11.42.87.2
New ListingsProperties Let
Jul -
Oct 20
Jul -
Sep 19
Jul -
Sep 20
Jul -
Sep 19
NATIONAL-5.3-0.4-4.8-1.7
Central England-8.6-2.6-4.4-2.6
East Anglia-8.29.4-4.26.2
East Midlands-58.6-22.1
London-5.8-8.5-6.80.3
North East-2.10.5-7.3-0.8
North West-3.4-0.5-9.9-6.5
Scotland12-9.127-2.3
South East-8.4-0.7-5.5-2.7
South West-8.5-1.8-5.2-3.4
Wales4.63.19-3.5
West Midlands-7.1-0.1-7.9-5
Yorks & Humber-6.8-0.6-9.2-0.5
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