South Lanarkshire

David Kendall

David Kendall - Lets Make Homes

“Lets Make Homes expect strong demand for good quality rental properties to continue to grow throughout Lanarkshire during 2018. Well-presented houses are particularly sought after and often let at first viewing. The BTL mortgage market has become increasingly complex, particularly with the introduction of more stringent underwriting rules for portfolio landlords. This combined with 3% LBTT supplement and the changes in taxation means less landlords will expand, whilst others may decide to decrease their portfolios.”

Market Overview - Q4 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 £408 4.9% 7.1% 7.1% 29 -3 15% 56%
2 bed £510 -1.5% 4.7% 7.1% 41 11 13% 44%
3 bed £665 -0.7% 9.2% 7.6% 28 3 26% 55%
All £593 3.7% 14.3% 11.7% 35 6 16% 49%

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

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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