July was a ‘relatively robust month for the UK lettings market’

Rental market activity remained relatively stable last month, according to the latest data from Agency Express Property. 

National month-on-month figures for properties ‘to let’ sat at 3.8% while properties ‘let’ sat at 5.1%. 

Looking at performance across the UK, six of the 12 regions recorded by the index reported an increase in new listings ‘to let’, while eight regions reported a rise in properties ‘let’.

Scotland ranked number one in terms of new listings last month, with figures increasing by 107.1%. 

Properties ‘let’ continued to rise month-on-month at 236.5%.

Wales followed suit reporting buoyant activity in both new listings at 28.5% and properties ‘let’ at 59%.

Other hotspots in this months index included:

New listings ‘To Let’

• North West 13.9%

• North East 13.1%

• South East 4.3%

• Central England 3.4%

Properties ‘Let’

• South West 14.2%

• Central England 2.9%

• East Midlands 1%

• London 0.8%

• South East 0.8%

• North East 0.7%

The largest declines in this month’s Property Activity Index were recorded in Yorkshire and Humberside. 

Month-on-month figures for new listings ‘to let’ dropped 8.2% and properties ‘let’ to -3%. But over a three-month rolling period figures were more resilient at 57.2% and 66.7%.

Stephen Watson, managing director of Agency Express, commented: “July has been a relatively robust month for the UK lettings market. Usually we see slower movement throughout the summer holidays but this month’s activity has been buoyant for many regions. 

“Looking forwards, while we hope to see further increases in August with figures starting to level out, we don’t envisage a real pickup in activity until September. 

“It will be interesting to see if the current rate of activity continues into the latter end of the year where we would expect a seasonal slowdown.”

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