Buoyant start to the year for the rental market

New data from Agency Express has illustrated that there has been a robust start to 2017 for the English rental market.

Figures suggest that the rental market gained plenty of momentum during January.

Listings

According to the data, national figures for new listings ‘to let’ stood at a national record of 50.8% last month. Meanwhile, properties ‘let’ remained true to previous trend at 47.1%.

Taking historical data into account, January’s figures for new listings ‘to let’ saw the biggest increases in activity for the month over the last three years:

New Listings ‘To Let’  

January 17-50.8%

January 16-43.6%

January 15-39.8%

Properties ‘Let’  

January 17-47.1%

January 16-46.1%

January 15-44.7%

Buoyant start to the year for the rental market

Buoyant start to the year for the rental market

Buoyant

Assessing rental market activity in the rest of the UK, the buoyant trend continued.

All 12 of the regions recorded by the index saw increases in both new listings ‘To Let’ and properties ‘Let.’

The top performing region was Scotland, with a record number of new listings ‘To Let’ recorded. New listings here totalled 84.1%, with those in Wales rising to 89.5%-another January record.

On the other hand, the smallest increases in this month’s index were recorded in the East Midlands. Figures for new properties coming on the market stood at 3.2%, with properties let during the period standing at 22.1%.

Managing Director of Agency Express, Stephen Watson, commented, ‘Following the December lull, a spike in activity is always predicted. While month-on-month figures for January are heavily affected by the change in seasonal activity we continue to see overall growth for the UK lettings market, with some unexpected regions returning record bests.’

 

 

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