Understanding the dynamics of the Plymouth lettings market is essential for any landlord looking to maximise their investment and ensure long-term success. At Smeaton Homes, we pride ourselves on local knowledge that works for you, offering real advice from real agents. Let's analyse the trends we're observing in 2025 and what we anticipate for 2026.

The Current Landscape: Available vs. Let Properties in Plymouth

Throughout 2025, we've seen a continued robust demand for rental properties across Plymouth. While the number of available properties has remained relatively stable, the speed at which properties are being let has notably increased. This indicates a healthy, competitive market for landlords, often resulting in shorter void periods and strong rental yields for well-maintained properties priced correctly.

Our data suggests that properties entering the market are typically secured within an average of 2-3 weeks, a slight reduction from the previous year. This swift turnaround is a testament to Plymouth's enduring appeal as a place to live, work, and study, attracting a steady stream of tenants.

Forecasting into 2026: What to Expect

Looking ahead to 2026, we anticipate these trends to largely continue. Economic factors, including interest rates and the cost of living, will undoubtedly play a role, but Plymouth's unique position as a naval city, university hub, and growing tourist destination provides a strong underlying demand for rental accommodation. We foresee a slight increase in rental prices, driven by sustained demand and the ongoing costs associated with property ownership and management. However, this growth is expected to be steady and sustainable, rather than a sharp spike.

Popular Property Types: A Breakdown for Landlords and Tenants

Understanding which property types are most sought after is key to making informed investment decisions. Here's a breakdown of what we're seeing in Plymouth:

1. Two and Three-Bedroom Houses

These remain incredibly popular, particularly with families and young professionals. Tenants value the extra space, gardens, and often the quieter residential locations. Properties in areas with good school catchments or easy access to major employers continue to attract significant interest. For landlords, these properties often command stable rents and attract long-term tenants.

2. One and Two-Bedroom Flats/Apartments

Especially within the city centre, waterfront areas, and close to the University of Plymouth, one and two-bedroom flats are in high demand. They appeal to students, single professionals, and couples seeking convenience, modern living, and proximity to amenities and transport links. Properties with good communal facilities, secure parking, or balconies are particularly desirable. The student market, in particular, provides a consistent demand for these types of units.

3. Terraced Properties

Traditional terraced houses, often found in established Plymouth neighbourhoods, offer excellent value for both landlords and tenants. They provide a good balance of space and affordability, appealing to a broad demographic. Modernised terraced homes, especially those with updated kitchens and bathrooms, are highly sought after.

4. HMOs (Houses in Multiple Occupation)

For landlords willing to navigate the specific regulations, HMOs continue to be a lucrative option, particularly for the student market or young professionals. Areas around the university and city centre are prime locations for these properties, offering strong rental yields per room. However, it's crucial to ensure full compliance with licensing and safety standards.

Key Takeaways for Landlords

• Presentation Matters: Well-maintained, clean, and modernised properties consistently let faster and achieve higher rents.
• Location is King: Proximity to amenities, transport, employment hubs, and educational institutions significantly boosts a property's appeal.
• Stay Informed: The market is dynamic. Regular analysis and expert insight are vital for making the best decisions.

We're here to make moving easier, offering expert insight and value. Our proactive and creative approach ensures we stay ahead of the curve, providing you with the best service and honest advice.

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