Tenant demand is currently soaring in Plymouth which, in turn is leading to rising rents.
Add to that a continued shortage of quality rental properties, and now could be the perfect time to become a landlord in Plymouth.
According to Rightmove’s latest Rental Price Tracker, average rents across the South West have climbed by 4.1% in the first quarter of 2025.
While this might come as no surprise to active landlords, it’s a strong indicator that the rental market is not just surviving – it’s thriving.
For anyone considering a buy-to-let investment, especially in Plymouth and the surrounding areas, these figures point to a real opportunity.
Landlords here are achieving better-than-average yields, void periods remain low, and the long-term outlook for rental demand is extremely positive.
Richard Rabin, Lettings Director at Lang Town & Country, says: “Plymouth has seen significant rental price growth over the past 12 months, driven by a continued imbalance between supply and demand.
“There simply aren’t enough new properties coming to the market to meet tenant needs. That’s keeping prices high and giving landlords an excellent yield – particularly when compared with other asset classes.”
A shortage of supply, a surge in demand
The supply issue is twofold. Many landlords have left the market in recent years due to tax changes and increased regulation.
At the same time, demand from tenants remains extremely high. This has created a bottleneck in the rental sector – one that is particularly noticeable in a university city like Plymouth, where professionals, students, families, and key workers are all looking for quality accommodation.
This supply-and-demand imbalance isn’t a new trend, but it’s one that appears to be intensifying. As the latest figures from Rightmove show, tenants are still competing for a limited number of properties, pushing rents up further and ensuring that void periods remain low for landlords.
Yields in Plymouth remain strong
While rising interest rates have made mortgage costs more challenging in some areas of the country, the reality in Plymouth is that average rents are still increasing faster than many landlords’ costs
That means gross yields – particularly on well-located one- and two-bedroom homes – are holding firm, and in many cases improving.
Richard explains: “For landlords who are careful about what and where they buy, Plymouth continues to offer one of the most attractive rental yields in the South West.
“In many cases we’re seeing yields well above the national average, especially on modern properties that are ready to let out with minimal work.
“And for landlords willing to invest in upgrades or energy-efficiency improvements, tenant demand is even stronger. More renters are prioritising energy bills and property conditions when choosing a home – which makes higher-spec buy-to-let properties even more desirable.”
Looking ahead: is the future bright?
Although the UK rental market continues to evolve – particularly with the proposed Renters’ Rights Bill on the horizon – the fundamentals in Plymouth remain positive.
The city is growing, both in population and in economic potential. Regeneration, investment in infrastructure, and a thriving university continue to draw people in. And all of those people need somewhere to live.
Richard says: “We can only see demand increasing in Plymouth in the coming years. Whether it’s young professionals relocating, families needing more space, or downsizers who want to rent in retirement, rental demand is here to stay. And smart investors who enter the market now stand to benefit for years to come.”
Why now could be the perfect time to become a landlord
There’s a tendency for would-be landlords to hesitate in uncertain times. But in many ways, the current conditions make now an ideal time to take action:
- Rental prices are strong and still rising.
- Tenant demand far outstrips supply.
- Well-chosen properties are achieving excellent yields.
- Void periods are short and competition for homes is fierce.
For those with capital to invest – or existing landlords looking to expand their portfolio – the opportunity to secure a quality property in a growth area is very real.
And with the right support and guidance, it’s possible to build a portfolio that is not only compliant but profitable and stress-free.
How Lang Town & Country can help
We’ve been supporting landlords across Plymouth and the surrounding areas for more than 30 years. Whether you’re just getting started, returning to the market, or managing a growing portfolio, we’re here to make things simpler and more rewarding.
From sourcing investment properties and arranging viewings to handling tenancy agreements, maintenance, and compliance, our expert lettings team takes care of everything – leaving you to enjoy the benefits.
We’re also happy to offer a free, no-obligation rental valuation if you already own a property and are curious about its potential. Simply call our expert team on 01752 201010 or visit langtownandcountry.com to learn more or book a free consultation.
We look forward to hearing from you.
