Fri 22 Jun 2018 View all news articles

Lettings market comes back to life after 'slumber spring'

The lettings market is looking distinctly healthier now than a month ago according to data just released by board company Agency Express.

It says that following “a slumber market” in the spring, latest figures show nationwide increases in both ‘To Let’ and ‘Let’ properties.

National figures for new listings ‘To Let’ crept back up to 3.6 per cent while properties ‘Let’ improved 2.0 per cent.

However, over a three-month rolling period ‘Let’ figures remain down 0.9 per cent and the market still appears slightly slower than in previous years.

Agency Express says eight of its 12 regions reported increases in properties ‘To Let’ in the past month while six reported increases in properties ‘Let’.

Regional hotspots for properties ‘To Let’ include the south west - up a strong 14.5 per cent - and the West Midlands, almost as strong with a 14.4 per cent rise. Central England was up 12.6 per cent while London improved 11.3 per cent.

In terms of Properties ‘Let By’, the West Midlands was the clear top performer, up 31.0 per cent. Central England was up 14.0 per cent and Scotland by 13.5 per cent.

London again showed improvement, albeit by a modest 7.1 per cent.

“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” explains Stephen Watson, managing director of Agency Express.

Source: Letting Agent Today

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