The number of rental properties coming to market has hit a four-year low, at least if you go by To Let boards.
Board provider Agency Express’ Property Activity Index showed the number of To Let boards were down 9% during July.
This time last year the index showed a 3.6% boost in To Let boards.
Meanwhile, the number of demands for Let boards was up 3.6% over the month.
This is a turnaround from a 5.6% drop in July 2016.
Seven of the twelve regions recorded by the index reported increases in properties ‘Let’, headed by the North-East and East Anglia, which were up 5.2% and 3.4% respectively.
The biggest drops were in London, with Let boards down 13%, while the Yorkshire & Humber region was down 6.8%.
Only two regions saw increases in To Let boards, with the North-East up 5.2% and East Anglia up 3.4%.
To Let boards in Central England and Scotland were down 23.3% and 20.1% respectively.
Stephen Watson, managing director of Agency Express, said: “This month we have witnessed much slower movement throughout the UK lettings market.
“While it is not unusual to have a slowdown in activity during July, we are seeing far less rental properties hitting the market compared to twelve months ago.”