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Lettings market cooling during early summer, says Agency Express
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Original Source: Letting Agent Today.
Original Author: Graham Norwood.
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There’s been a cooling in the lettings market in the early part of summer – a time when the sector is normally buoyant, says board company Agency Express.
Its ‘property activity index’ says that while figures for new listings in the ‘To Let’ category did see a marginal increase of 0.9 per cent, ‘Let’ properties fell 1.9 per cent.
Over a three-month rolling period figures recorded across the UK remain down with new listings dropping 2.3 per cent and properties ‘Let’ down 4.9 per cent. Records also show the figure for properties ‘Let’ during last month is at its lowest June level since 2014.
Only five of the 12 regions recorded by the index reported increases in new listings ‘To Let’ and properties ‘Let’.
This month’s top performing region was Central England. Figures for new listings ‘To Let’ sat at a robust 25.4 per cent increase, marking the region’s largest month on month increase for June since the index began in 2012.
Over a three-month rolling period Central England remained at the top of the leader board with figures for new listings sitting at 4.9 per cent up.
The largest declines in this month’s Property Activity Index were made in the North East. New listings ‘To Let’ fell by no less than 23.5 per cent as did properties ‘Let’ down 26.1 per cent.
