The private rented sector has enjoyed a strong start to 2018, according to the Agency Express Property Activity Index.
National month-on-month figures for new listings ‘to let’ sat at a record 60.9%, in January, while properties ‘let’ remained true to trend at 57.7%.
But looking at historical data, overall activity has slowed when compared to the increases made in 2016 and 2017.
November’s top performing region was the South West, with new homes to let increasing by 66.8% month-on-month, while properties let rose to sit at 83.2%. The South East followed suit with new listings ‘to let’ at 67.3%, again a record best month for the region.
Here are the prominent performing regions:
Properties ‘To Let’
North West 82.20%
North East 71.40%
South East 67.30%
South West 66.80%
Properties ‘Let By’
South West 83.20%
South East 70.70%
West Midlands 68.10%
Yorkshire & Humberside 67.40%
The smallest increases in this month’s index were recorded in London. New listings ‘to let’ sat at 23.1% while properties ‘let’ sat at 14.7%.
However, looking back over the index’s historical data we can see that the figures have notably fallen compared to 2017 where new listings ‘to let’ sat at 67.7% and properties ‘let’ at 55.8%.
Commenting on the latest report, Stephen Watson, managing director of Agency Express, commented: “Following the December lull a spike in activity is always predicted.
“While month on month figures for January are robust they are heavily affected by the change in seasonal activity.
“This year we have seen growth, just not at the same rate as we have previously.”