Slowdown for the UK lettings market in February

The latest data from the Agency Express Property Activity Index data has revealed a slump in lettings activity across the UK. National month on month figures for new listings ‘To Let’ sat at -17.4% while properties ‘Let’ fell for the first time in four years at -0.8%.

This months prominent performer was the East Midlands reporting a record best increase in properties ‘Let’ at 27.4%. The largest declines in this months index were recorded in the North East. New listings fell to -25.7% as did properties ‘Let’ at -16.2%.  The drop in activity marked the region’s largest month on month decline for February since the index’s first records in 2012.

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

The Property Activity Index traditionally reports a slowdown in new listings throughout February for many regions, and it has done so since our first records in 2012. However, this year we have seen larger month on month declines across the board. As we move in to March we anticipate and bounce in activity so it will be interesting to see if the figures pick up to their usual pace.

To read the latest Property Activity Index report in full please click here: