A further increase in new lettings listings was recorded in September, according to the latest Property Activity Index from Agency Express.
Across the UK, the number of new lettings listings rose by 0.9% over the month to September, yet the amount of properties let during September dropped for a second consecutive month, by 2.8%.
Further Increase in New Lettings Listings Recorded in September
Looking at the index’s rolling three-monthly data, figures remain down, with new lettings listings dropping by an average of 1.9% and the number of properties let down by 1.2%.
Around the country, seven of the 12 regions included in the Property Activity Index recorded growth in new lettings listings, while five saw increases in the amount of properties let during September.
The month’s top performer was the North East. Following a slumber market in August, lettings activity bounced back, returning robust growth for both new listings, which were up by 17.8%, and the number of properties let, which rose by an average of 20.9%.
Wales followed suit, reporting a record best increase in the amount of properties let during September, which was up by 18.6%.
Other regional hotspots included:
New lettings listings
- South West: +8.4%
- North West: +7.1%
- East Midlands: +6.4%
- East Anglia: +4.4%
- Wales: +18.6%
- East Anglia: +9.2%
- West Midlands: +1.7%
- East Midlands: +1.7%
The greatest declines witnessed over September were in Scotland. On a monthly basis, the number of new lettings listings dropped by 17.9%, while the amount of properties let during the month was down by 16.2%. Looking over Agency Express’ historical records, the decreases recorded this September are greater than those experienced in 2016 and 2015.
The Managing Director of Agency Express, Stephen Watson, comments: “This month, we have witnessed some growth across the UK lettings market. One or two regional pockets have reported record bests, while others performed consistently.
“The index’s rolling three-monthly data does show that we are still recovering from the slower pace experienced during June and July, but, as we move into October, we would hope to see further increases.”