South Lanarkshire

David Kendall

David Kendall - Lets Make Homes

“Traditionally the lettings market goes quiet in the run up to Christmas, but not in Lanarkshire in 2021! Very little available stock will be carried into the new year, consequently new properties are likely to be in high demand. ‘My landlord is selling’ continues to be one of the most common reasons for existing tenants needing to move, this coupled with the PRS being the sector of choice by many, means that rent levels are likely to continue their upward trajectory with good quality properties attracting numerous strong applicants.”

Market Overview - Q4 2021

BedsAverage
Rent
Rent Change
1yr
Rent Change
5yrs
Rent Change
10yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £453 4.6% 16.5% 18.3% 14 -3 35% 88%
2 bed £601 -0.2% 16.0% 26.0% 13 0 41% 91%
3 bed £743 1.1% 10.9% 18.1% 11 2 30% 100%
All £660 1.5% 15.4% 25.0% 13 0 39% 92%

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 106.3 106.4 105.5 109.2
2018 107.0 110.7 107.6 106.3
2019 109.4 111.0 112.3 112.5
2020 111.0 108.1 115.5 119.7
2021 115.1 117.3 124.7 121.5

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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