The boards begin telling the story this summer

A good afternoon to you all,

It's well documented that we have witnessed a gentle slowing in our rental and as you know it is something we have been very keen to share with you all both through social media and direct conversations. 

Much has been suggested about the reasons behind this change in our market and adding further to this change Is  a cooling in the lettings board activity leading to the markets busiest period.

In a recent report of Agency Expresses‘property activity index’ shows 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. 

The next 3 months in this busiest period will truly determine how affected our market has been by the recent legislative/government changes and what we can expect for the remainder of 2017.