South Lanarkshire

David Kendall

David Kendall - Let’s Make Homes

“A more buoyant sales market, particularly of larger properties, has had a significant effect on the rental market as supply has decreased significantly because owners of these properties now have the opportunity to sell quick. Consequently accidental landlords are leaving the market while new/expanding landlords are generally purchasing smaller properties. The net result is that rental prices are increasing, especially for larger properties, with short marketing times and hardly any voids. The opening of the Raith underpass and the ‘missing section’ of the M8 continue to improve accessibility and decrease travelling times to the Lanarkshire area.”

Market Overview - Q1 2017

BedsAverage
Rent
Rent Change
1yr
Rent Change
3yrs
Rent Change
5yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £392 -1.0% 7.4% 5.9% 38 -6 15% 48%
2 bed £518 4.6% 7.9% 4.6% 40 6 15% 43%
3 bed £692 10.2% 11.8% 12.5% 40 -3 10% 51%
4 bed £1,088 24.8% 30.3% 7.2% 52 4 29% 43%
Total £577 5.1% 10.7% 5.7% 40 1 14% 46%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2008)

YearQ1Q2Q3Q4
2008 100.0 99.3 101.3 102.4
2009 103.3 96.7 95.6 103.3
2010 104.1 99.4 99.8 104.8
2011 96.3 99.4 100.4 97.2
2012 100.6 99.3 102.9 97.8
2013 95.0 96.3 97.2 97.6
2014 95.9 103.1 104.1 95.6
2015 101.8 104.1 102.4 104.1
2016 101.1 105.3 108.3 105.3
2017 106.3      

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
G71 5.40% 5.50% 5.90% 4.90% 6.1%
G72 8.30% 7.50% 7.50% 7.40% 8.2%
G73 7.00% 6.60% 6.80% 6.60% 6.5%
G74 6.80% 7.00% 6.60% 6.70% 6.6%
G75 8.90% 8.80% 8.70% 7.90% 8.0%
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