South Lanarkshire continues to post consistently strong growth at a substantial 5.9% YOY to average £611 per month. TTL for the market is down 5 to 28 days, a speed characteristic of the major cities, though growth from the 5 and 10 year view is somewhat less at 3.5% and 0.9% respectively. The index for the region ended the decade at a record high of 112.5 compared to its 2008 base and looks set for continued YOY growth.
“The usual end of year slowdown was much less pronounced with a steady level of enquiries maintained throughout Christmas and New Year. 2020 is already off to a strong start with a high level of enquiries. Anecdotal evidence suggests that there are a number of landlords exiting the market and those who are successfully increasing their portfolios are adopting a professional long term view. Ever more rigorous underwriting checks for new BTL lending, the 4% Additional Dwelling Supplement and punitive tax increases continue to stem the flow of new entrants.”
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