Rental properties fall in number
The latest data from the Agency Express Property Activity Index has revealed a fall in the number of rental properties coming on to the market.
National figures for new rental properties sat at 2.6%, while figures in 2015 sat at a robust 11.5%.
This months top performing region was Scotland, after two consecutive months of decline figures for new rental properties sat at 10.4% but they remained down over a three month period at -1.70%.
Commenting on the Property Activity Index Lettings Report, Stephen Watson Managing Director of Agency Express said:
Over the last three years October has been a buoyant month for new rentals across the UK lettings market. However, this year the figures paint a different picture which is evident by the drop in supply. Historical trends also indicate that we should not see a decline in figures until December, but with the current rate of change it will be interesting to see what Novembers and Decembers data brings.