Momentum improves as there is a rise in both ‘to let’ and ‘let’ properties

Following a slowdown in rental market activity in April, new letting data from the Agency Express Property Activity Index has revealed nationwide increases in both ‘to let’ and ‘let’ properties.

The latest national figures show that new listings ‘to let’ increased to 3.6% while properties ‘let’ hit 2%.

However, over a three-month rolling period ‘let’ figures remain down at -0.9% and historical records show greater levels of activity in years previous.

Looking at the individual regions recorded by the Property Activity Index, eight of the twelve regions reported increases in properties ‘to let’ and six reported increases in properties ‘let’.

Here are the prominent performing regions:

Properties ‘to let’

South West 14.50%

West Midlands 14.40%

Central England 12.60%

London 11.30%

North East 10.90%

Properties ‘Let By’

West Midlands 31.00%

Central England 14.00%

Scotland 13.50%

London 7.10%

North East 3.40%

The largest declines were recorded by the North West and London.

Falling for a second consecutive month, figures for properties ‘let’ in the North West fell to -7.5%, while in London the number of new listing fell for the first time since February sitting at -11.3%.

Stephen Watson, managing director of Agency Express, said: “This month we have seen some overall growth for the UK lettings market with some regional pockets recording record bests.

“As we move in to June which is traditionally a buoyant month we would expect to see a further increase in pace.”

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