Slow winter ahead for private rental sector warns market monitor

Agency Express, the board company that monitors the lettings market through demand for its To Let and Let By boards, warns that there may be a slow winter ahead of the sector.

It says that its latest figures, for October, show the customary increase in business: new listings ‘To Let’ showed a 16.3 per  cent rise, while properties ‘Let’ increased 2.1 per cent. 

But this was significantly slower than the same month of 2018. 

Looking at the individual regions recorded by the Property Activity Index, 11 reported increases in new listings ‘To Let’ and six reported increases in properties ‘Let’.

The largest increase in this month’s Index was reported in the South West with new listings up 39.4 per cent, marking a record best October for the region. Central England followed suit, where following four months of consecutive decline figures for new listings bounced back with a 25 per cent boost.

The largest decline in this month’s Property Activity Index was made in the North East. Falling for a third consecutive month, figures for properties ‘Let’ sat dropped 18.7 per cent.  Angry Express also witnessed year on year declines for the region in both new listings ‘To Let’ and properties ‘Let’

“During October we generally see a pick up in pace and this month has remained true to trend. However, activity is slower than 12 months previous” notes Stephen Watson, managing director of Agency Express.

“As as we collate November’s data and move in to December we will start to see the beginning on the seasonal decline, which will most likely be further impacted by the upcoming General Election” he adds.