x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

Rental market activity remained sluggish in August

There was a further decline in the number of properties let last month, as a drop in supply restricted choice for those looking to rent, the latest figures from the Agency Express Property Activity Index show.

The percentage of properties ‘let’ dropped to sit at -1.9%, owed partly to a 3.2% fall in the volume of homes ‘to let’, according to August’s figures.

But the index’s rolling three monthly data figures from June to August are more resilient, with new listings ‘to let’ hitting 0.4% and properties ‘let’ at 1.4%.

The index’s historical data also shows that activity across the lettings market was slower with new listings at -1.8% and properties ‘let’ at -1%.

Looking at performance across the UK, just four of the 12 regions recorded by the index reported increases in new listings ‘to let’, while five of the 12 saw a hike in properties ‘let’. 

Here are the prominent performing regions:

Properties ‘to let’

Scotland 13.1%

Wales 4.7%

Yorkshire and Humberside 2.8%

Properties ‘let’

Wales 8%

Yorkshire and Humberside 7.9%

East Midlands 7%

North West 4.2%

Stephen Watson, managing director of Agency Express, said: “This month the UK lettings market has seen some seasonal decline.

“Looking at the index’s historical records, while we have seen some positive figures from our rolling three monthly data, year-on-year we have witnessed a decline.

“Moving in to September we would expect to see a spike in figures but it will be interesting to see if usual activity resumes.”

  • Kristjan Byfield

    Do these figures take in to account renewals? If properties are being re-let without going on the open market surely this would create the impression of a shrinking market. I cant speak for anyone else but our August was up nearly 20% on last years letting figures and was our best ever month for new business.

icon

Please login to comment

valpal
submit
sign up