Posts with tag: rental listings

November sees improvement in rental market activity

Published On: December 19, 2016 at 10:07 am

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Categories: Property News

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New data released from Agency Express has revealed that activity in the lettings market rose markedly during November.

According to the firm, the number of new listings ‘to let’ rose by 13.9% year-on-year, from an increase of just 3.4% rise in new properties coming to market during October.

Rental Volumes

The actual volume of properties let last month slipped by just -1% in the same period, representing a marked improvement from the -6.2% recorded at the same period last year.

Regionally, nine of the twelve regions recorded by the Property Activity Index saw a growth in new listings to let, while seven regions saw a rise in properties let.

In terms of properties let, the top 5 increases during November were evident in:

  • South East-+49%
  • South West-+29%
  • Wales-+20.5%
  • North East-+15.8%
  • East Anglia-+12%

For properties actually let, the top rises were evident in:

  • Yorkshire and the Humber-+7.1%
  • East Anglia-+6.7%
  • East Midlands-+5%
November sees improvement in rental market activity

November sees improvement in rental market activity

Declines

The largest falls were seen in central England, where the new listings ‘to let’ stood at -5.2% and properties let were down -6.8%.

However, over the last quarter, figures stayed resilient, with new listings at 4.4% and let properties at 0.7%.

Stephen Watson, managing director of Agency Express, said: ‘A robust come back of the UK rental market this month. Following what was an unexpectedly slow October, the increase in this month’s figures has redressed the balance. Now we move in to December where a seasonal slowdown is expected it will be interesting to see how the year-end figures stand.’[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2016/12/rental-market-activity-improves-in-november

 

 

August was record month for new tenancies

Published On: October 10, 2016 at 1:39 pm

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Categories: Landlord News

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The number of new tenancies agreed in August was the highest ever recorded at letting agent Knight Frank.

According to the agent, the number of new tenancies agreed in the three months to August rose by 15.7%. In addition, the number of viewings booked with prospective tenants increased by 21.7% in the same period.

Increases

However, rental growth slipped by 4.7% year-on-year to September.

Tim Hyatt, head of lettings at Knight Frank, noted: ‘Continued uncertainty created predominantly by higher stamp duty rates but exaggerated by Brexit has led to an increase in prospective tenants and landlords.’[1]

‘Although there has been some price adjustment, we are seeing a lot of tenancies being agreed as a result,’ he added.[1]

August was record month for new tenancies

August was record month for new tenancies

Capital results

Knight Frank also revealed its most recent sales figures for Prime Central London locations. Annual price growth in this region was -2.1%.

Properties stayed on the market here for an average of 14% longer between January and August 2016, in comparison to the same period in 2015.

The number of properties under offer were up by 39.3% between January and August year-on-year. The number of new potential buyers interested in properties valued between £2m and £5m rose by 8.7% in the same timeframe.

[1] https://www.propertyinvestortoday.co.uk/breaking-news/2016/10/agency-claims-august-was-record-month-for-new-tenancies