Rental properties have defied the usual summer slowdown which is often seen in the housing market due to several factors, including summer holidays and children not being at school. According to the latest data from the Agency Express Property Activity index, properties let nationally were up 6% month-on-month.
The Agency Express index is based on the number of lettings boards which are erected each month, and is therefore a particularly up-to-date measure of activity in the marketplace. According to the board company, as well as properties ‘Let’ being up 6%, the number of properties entering the lettings market also increased by 8.5% month-on-month.
Some regions which observed particularly strong growth are listed below:
Properties ‘to let’
South East 16.4%
Yorkshire & Humberside 16.1%
South West 10.8%
Wales 10.8%
Properties ‘let’
North East 17.2%
Yorkshire & Humberside 7%
South West 6.7%
London 5.8%
Wales 4.3%
South East 4%
Stephen Watson, managing director of Agency Express, commented: “July has been an unexpected month for the UK lettings market. Usually we would see slower movement throughout the summer holidays but this month’s activity, which is somewhat reflective of an increase in our customer base has been buoyant.
“Looking forwards, while we expect to see further increases in August, we don’t envisage a real pickup in activity until September. It will be interesting to see if the current rate of activity continues.”