Agency board provider sees signs of slowdown in rental market

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.”

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