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Latest Property Activity Index shows UK lettings market uplift in summer
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Activity has increased across the UK lettings market during July this year, according to the latest data from the Agency Express Property Activity Index.
From the national month on month figures, we can see that new listings ‘To Let’ sat at 8.5% and properties ‘Let’ at 6%. Looking at previous records from the Property Activity Index, we can also see that, while lettings market activity was generally greater throughout 2018, this month’s figures have exceeded those recorded 12 months previous.
Eight of the twelve regions recorded by the Property Activity Index reported increases in new listings ‘To Let’. Ten of these regions reported increases to properties ‘Let’.
The East Midlands achieved the top spot on this month’s leader board with new listings at a healthy 46.7% and properties ‘Let’ at 23.3%. East Anglia also had a fruitful month, with new listings at 27.4% and properties ‘Let’ at 29.6%. Both regions reported record best figures for July.
Other prominent performing regions included:
Properties ‘To Let’
- South East 16.4%
- Yorkshire & Humberside 16.1%
- South West 10.8%
- Wales 10.8%
Properties ‘Let’
- North East 17.2%
- Yorkshire & Humberside 7%
- South West 6.7%
- London 5.8%
- Wales 4.3%
- South East 4%
The Property Activity Index shows that Central England saw the largest declines across the market this month. New listings fell for a second consecutive month at -0.50%. Properties ‘Let’ fell to -11%. However, over a three-month rolling period, figures were greater at 3.9% and 0.1%, with year on year activity remaining on trend.
Stephen Watson, Managing Director of Agency Express, says: “July has been an unexpected month for the UK lettings market. Usually we would see slower movement throughout the summer holidays but this month’s activity, which is somewhat reflective of an increase in our customer base has been buoyant.
“Looking forwards, while we expect to see further increases in August, we don’t envisage a real pickup in activity until September. It will be interesting to see if the current rate of activity continues.
