Broad Rental Market Area Profile – South Lanarkshire
Note in the following text and charts that average rents that have changed within +/- 0.5% could be considered as being fairly similar to previous periods.
Average (mean) 2 bedroom rents in South Lanarkshire have been lower than the Scotland average in each year since 2010. The gap has widened since 2011, although has narrowed slightly in the latest year, with the average rent in 2021 being £556 per month, compared to the Scotland average of £693.
Between 2020 and 2021 average rents have increased for 2 bedroom (3.0%), 3 bedroom (3.1%), 4 bedroom (7.4%), and 1 bedroom shared properties (10.9%), whilst average rents have shown little change for 1 bedroom properties (-0.3%), which compares to CPI inflation of 1.5% across this time period. Although some caution is needed when interpreting the changes over time for 4 bedroom and 1 bedroom shared property size categories, given the smaller sample numbers for these categories.
Between 2010 and 2021 average rents have increased for all property sizes, ranging from 7.5% for 1 bedroom properties to 29.8% for 1 bedroom shared properties. This compares to CPI inflation of 24.3% across this time period.
For all property sizes, since 2010 increases in the top end (upper quartile) of rents have generally been slightly greater than increases in the bottom end (lower quartile), which has widened the gap in rents slightly.