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Board firm's lettings index shows bigger-than-expected summer drop

The latest data from board company Agency Express’ Property Activity Index has shown a larger than usual summer fall in the lettings sector. 

National figures for new listings in July designated ‘To Let’ sat at 3.6 per cent growth while properties ‘Let’ declined by 5.2 per cent.

Five of the 12 regions recorded by the index reported increases in new ‘To Let’ listings, and only three recorded increases in properties ‘Let’.

Amongst properties ‘Let’ stand-out regions were the north west (where there was growth of 12.8 per cent in the month), and the west and east Midlands (where growth was 9.1 per cent and 8.8 per cent respectively). 

Amongst properties ‘To Let’ there was growth in the central England region (up 7.1 per cent), and in the east and west Midlands (up 3.7 per cent and 2.2 per cent respectively). 

The largest declines were in the north east of England where in July - despite a robust month in June - new listings 'To Let' fell 10.3 per cent and properties ‘Let’ dropped a hefty 18.5 per cent.

“While some decline can be expected during the summer holiday period, the Property Activity Index shows a greater fall in activity than in years previous” admits Stephen Watson, Agency Express managing director.

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