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A Mixed Month for the Lettings Market in July
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
The latest Property Activity Index from Agency Express reveals a mixed month for the lettings market in July.
Nationally, the number of new property listings to let rose by 3.6%, while the amount of properties let fell by 5.2%.
A Mixed Month for the Lettings Market in July
Analysing the index’s rolling three monthly data, figures from May to July show declines in both new listings, by 2.5%, and properties let, at 2.7%.
Contrastingly, figures for the same period of 2015 were more robust, with new listings rising by 4.2% and properties let by 5.6%.
The Property Activity Index found that just five of the 12 regions recorded in the study saw increases in new listings and only three recorded growth in the number of properties let.
The best performing regions for new rental property listings and the number of properties let in July were:
New property listings
- North West: +12.8%
- West Midlands: +9.1%
- East Midlands: +8.8%
- Yorkshire and the Humber: +8.1%
Properties let
- Central England: +7.1%
- East Midlands: +3.7%
- West Midlands: +2.2%
July’s top performing region in the lettings market was the North West. After two consecutive months of decline, the North West bounced back, recording the greatest rise in the past month’s Property Activity Index. New listings to let increased from -5.4% in June to 12.8% in July.
The greatest decreases in the latest index were in the North East. Following a strong month in June, where new listings hit 26.5% and let properties reached 13.0%, July experienced a substantial drop in figures. The amount of new property listings in the lettings market fell by 10.3%, while the number of properties let dropped by a huge 18.5%.
Landlords, did you experience a mixed month in July? If so, where were your best performing regions for the lettings market?
As the latest Property Activity Index from Agency Express is the first since the Brexit vote, it will be interesting to see whether these mixed results continue.
