At Smeaton Homes, Plymouth's Landmark Estate Agents, we believe in providing real advice from real agents. Our commitment to local knowledge that works for you means we delve deep into the data, offering no jargon, just straight-talking property help. Let's explore what August 2026 has revealed for landlords in our vibrant city.

The Sales Market: A Steady Hand in Shifting Sands

August has seen a continuation of the steady, albeit cautious, sales market in Plymouth. While national headlines might suggest volatility, our local data indicates a more nuanced picture. Average property prices in Plymouth have remained relatively stable, showing a marginal increase of 0.8% over the last quarter, contrasting with a slight national dip of 0.2%.

Demand, particularly for family homes and properties with good access to local amenities and transport links, remains robust. We've observed that well-presented properties, accurately priced according to current market conditions, are still achieving strong interest and timely sales. For landlords considering divesting from their portfolio, now is a time for strategic planning and expert advice. Properties requiring significant renovation are taking longer to sell, reflecting a buyer's market that is increasingly value-conscious.

Our NAEA qualified agents are seeing that buyers are more discerning, often taking longer to make decisions and conducting thorough due diligence. This underscores the importance of working with an estate agent who understands the local nuances and can effectively market your property to the right audience, ensuring you achieve a price within market conditions.

The Lettings Market: Sustained Demand and Evolving Tenant Needs

The Plymouth lettings market continues to demonstrate strong demand, particularly for quality rental properties. August has been a busy month, with a consistent flow of enquiries for one, two, and three-bedroom homes across the city. Rental yields remain attractive, with average rents showing a 1.5% increase month-on-month for well-maintained properties.

However, tenant expectations are evolving. We're noticing a heightened preference for properties that offer energy efficiency, good broadband connectivity, and flexible living spaces. Properties with modern kitchens and bathrooms, and those that are pet-friendly (where appropriate), are often let more quickly and command higher rents. The supply of available rental properties, while improving slightly, still struggles to keep pace with demand, creating a competitive environment for prospective tenants.

Looking Ahead: Proactive Steps for Landlords

As we move into autumn, we anticipate the Plymouth property market will maintain its current trajectory. For landlords, a proactive and creative approach is key. Consider:

• Property Presentation: Ensure your rental property is in excellent condition, addressing any minor repairs before they become major issues.
• Energy Efficiency: Explore options to improve your property's EPC rating, which can attract more tenants and potentially higher rents.
• Market Analysis: Regularly review your rental income against local market rates to ensure you are competitive and maximising your investment.
• Professional Guidance: Utilise the expertise of local, professionally trained estate agents who can offer honest advice and support.

We're here to make managing your property easier. Our team at Smeaton Homes is committed to providing the best service and honest advice, working with you to achieve your property goals. We understand local issues and are dedicated to serving Plymouth's community.

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