South Lanarkshire

Lesley Barclay

Lesley Barclay - Happy Lets

“The South Lanarkshire market continues to perform well and demand continues to outweigh supply. I had thought this would change in the winter months, however, this was not the case. Time to let has reduced and the rents have increased. Demand is high and we are seeing an unprecedented number of applications for each property of all sizes. Landlords pulling away from the sector and selling also seems to have started to calm down which is great news for the sector. Hopefully with the cost of living crisis continuing, we don’t see landlords reconsidering remaining in the sector.”

Market Overview - Q4 2022

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 £500 10.4% 22.5% 31.2% 12 -2 49% 90%
2 bed £689 14.6% 35.1% 44.7% 12 -1 36% 89%
3 bed £855 15.1% 28.6% 38.3% 18 7 7% 86%
All £728 10.3% 22.8% 37.1% 13 0 34% 89%

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 115.1 120.3 124.7 121.5
2022 131.1 131.7 126.3 134.1

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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