South Lanarkshire

Lesley Barclay

Lesley Barclay - Happy Lets

“The South Lanarkshire market continues to perform well, however, with demand hugely outweighing supply - this is resulting in increased rents which could be difficult to sustain during and after the current economic climate. Just as the cost-of-living crisis is impacting tenants, property owners are also being hit hard with increased interest rates, and many are feeling in a catch twenty-two situation. This situation is making current property owners reconsider their future in letting and making potential landlords think twice about investing in rental properties at the moment. This then fuels the issue with low stock availability, and the cycle continues.”

Market Overview - Q3 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 £495 9.3% 25.3% 27.2% 15 1 38% 91%
2 bed £670 9.1% 28.8% 39.3% 12 -1 49% 90%
3 bed £820 5.9% 20.4% 27.9% 13 -3 38% 88%
All £716 5.8% 25.0% 28.1% 13 -1 44% 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 131.1 131.7 131.9  

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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