Lomond Quarterly Insight Summer 2023 Edition

Lomond Quarterly Insight

Reading between the lines Sales prices | Market confidence | Market balance | Market metrics

Scotland

Strong buyer affordability

Sales | Lettings | Affordability | First-time buyers

Yorkshire

A stable market

Sales | Lettings | Stamp duty | Affordability | Renter requirements

Manchester and the North West

A long-term view

Sales | Lettings | Investment | Attractive yields

Birmingham and West Midlands

West Midlands remains best performing region

Sales | Lettings | Mortgage advice | Future-proofing

South Coast

Serious and sensible buyers

Sales | Lettings | Downsizing | Options

Introduction | A new way to rent | Build to Rent Market | Bespoke service Lomond property services Property wisdom to help businesses

Land and New Homes | Conveyancing | Investment Management | Mortgage Services

+8%

Rise in properties under Lomond lettings management in the past 3 months, as institutional investment redefines the rental sector.

Truth behind the headlines

Reasons to move

Daily reports of rising mortgage rates, slower than expected falls in inflation, increased legislation and the continued rise in the cost of living are fuelling concern among homeowners, renters and landlords. There’s no denying the very real challenges being felt across the country but there is much more to consider than the headlines suggest.

In this second edition of the Lomond Quarterly Insight, we look beyond the headlines, using our extensive data and experience to provide the real picture of what’s happening across the UK’s housing market.

Those considering a move, a purchase or an investment could easily be deterred but, across our 60+ branch network, it is evident there are a wide range of mortgages available and lots of activity taking place, clearly at odds with the current headlines. Our properties under management have increased by 8% in the last three months and with more than £267 million of property sales completed, these numbers clearly demonstrate the ongoing activity levels. There will always be reasons why people need

to move and in many regions there are still huge supply shortages compared to the number of buyers and renters.

Long-term opportunities

For landlords, increased costs and legislation can seem daunting. Regardless of the content of the final Renters Reform Bill, the market will adapt and respond, as it has before. We welcome compliance as it leads to increased quality and continued professionalism of the sector with opportunities for landlords prepared to take a long-term view.

In this report, we introduce our Lomond Investment Management team who are on hand to advise and support individual landlords through to large institutional investors and Build to Rent developers.

“Current market conditions may seem challenging but our dedicated network of property professionals are providing reasoned and experienced support to help our clients to maximise returns.”

Ed Phillips Group Chief Executive

Dataloft, Property Academy Survey 2022

20% Of buyer moves are prompted by need (family, job, probate or financial).

13.5%

Increase in sales price

January 2021 to May 2023

Dataloft, Nationwide

Reading between the lines

Sales prices

Following a small dip after a peak of £273,751 in August 2022, average sales prices still remain 13.5% above January 2021.

Moderation

The property market today is in a different place than it was a year, three years, 10 years or even 25 years ago. The circumstances at these points all differed but the market has constantly evolved and repeatedly proven to be a sound investment decision for those looking to the long term. While sales prices have fallen 4.8% since their peak last summer, the sensationalist headlines often omit the fact that they remain 13.5% higher than in January 2021 (Nationwide).

A survey of over 10,000 home movers conducted last year found that over 60% of sellers had lived in their property for more than seven years (Property Academy). Analysis of historic data since the 1950s by Nationwide shows that only during the mid-1990s was 7-year nominal UK property price growth in negative territory. Prices are calmly moderating from the peaks witnessed last summer and experienced agents have witnessed the ebb and flow of markets before and are well placed to guide buyers and sellers through the months ahead.

pursuit of flexibility and maximum choice.

Buyers respond

Volatility in the mortgage market is clearly making headlines and is undoubtedly unnerving for many in fixed-priced deals due to end over the coming months. However, we are finding that buyer demand continues to track above available supply across our Lomond network. Prospective buyers are serious and keen to move. There will always be sellers who need or want to sell and buyers who need or want to buy, creating natural movement in the market.

Buyers are continuing to seek financial advice, with many re-negotiating mortgage offers during the conveyancing period to ensure their mortgage deal is as suitable as possible. They are altering their budgets, search locations or desired property specifications to reflect their financial position.

As the mortgage market becomes more complex, buyers are increasingly turning to mortgage advisors in

Sales prices remain 13.5% higher than at the start of 2021 despite having fallen 4.8% since the peak of the market last summer.

SALES

41

Instructions per branch March 2023 – May 2023

28

March 2022 – May 2022

238

Applicants per branch March 2023 – May 2023

192

March 2022 – May 2022

18

Exchanges per branch March 2023 – May 2023

19

March 2022 – May 2022

90

Market metrics Current at 4 July 2023

Mortgage approvals May 2023

Change since Feb 2023

Sales May 2023

Change since Feb 2023

Economy GDP growth April 2023

Change from year earlier

Average property price April 2023

Change since Feb 2023

New homes built Q1 2023

Change from Q1 2022

Bank base rate June 2023

Change from Feb 2023

50,524 15% 80,020 -8.7% 0.2% +0.2% £286,489 -1.1% 54,575 -10.4% 5.0% +1.0%

Demand Supply pipeline Buyer interest 39.8% withdrawal 33.8% fall through rate 35.0% One year ago 33.3% One year ago Lomond Quarterly Insight | 3

Valuations per branch March 2023 – May 2023

76

March 2022 – May 2022

12

Viewings per instruction March 2023 – May 2023

11

March 2022 – May 2022

22.4%

Demand is seasonably high, particularly in urban areas, with 4 in 5 of our renters looking for a home in a town or city.

Lettings market sees continued pressure on stock

Sustained pressure

The rental market continues to be very busy, with rising demand levels intensified by the usual seasonal peak in student demand. At the same time, the supply of properties available for renters remains constrained. In the last three months we registered 27 new applicants for every property listed. This continues to put upward pressure on rents with HomeLet reporting a 10% increase in May year-on-year. Renters are also choosing to renew and remain in their tenancies longer as they monitor the wider economic picture, exacerbating the supply issue.

Location, location, location

Following the exodus from cities during the pandemic, renters now live a median six miles from their workplace, compared to just five miles pre-Pandemic (Dataloft). With a return to the office, we are seeing a desire for renters to live closer to work, resulting in fierce competition between those wanting to move back in closer to city centres. However, we are still seeing a high demand for outdoor space, with 80% of applicants looking for a garden or other external area.

Changing landscape

The long-awaited Renters Reform Bill has been presented in Parliament, with the aim to make the private rented sector safer and fairer for renters. Seeking to eliminate Section 21 no-fault evictions and implement a move to period as opposed to fixed-term tenancies, the bill also includes measures to benefit landlords, such as the right to possession and the creation of a new online portal.

The rental landscape is no doubt changing. The sector is becoming more professional and is no longer seen as a short-term asset. Despite rising interest rates, the softening of sales prices means that those looking for a medium to long-term investment vehicle should not only see capital growth but also rising rents and yields. Investors without a mortgage, or with lower loan-to-values are in a particularly strong position.

Rental growth of 6% per annum over the next five years is predicted by the Royal Institution of Chartered Surveyors.

LETTINGS

Rental price dynamics

Market metrics Current at 4 July 2023

Earnings growth rate Feb 2023 – Apr 2023

Average rents annual change May 2023

Unemployment rate Feb 2023 – Apr 2023

Inflation current annual rate of change May 2023

Gross renter affordability March – May 2023 BTR pipeline under construction + planning

Our data performs across our network

14

Instructions per branch

2023 – May 2023 14 March 2022 – May 2022

371

Applicants per branch March 2023 – May 2023

376*

March 2022 – May 2022

79

Tenancies agreed per branch March 2023 – May 2023 89

March 2022 – May 2022

27

Applicants per instruction March 2023 – May 2023

35*

March 2022 – May 2022

33

Viewings per new instruction March 2023 – May 2023

36

March 2022 – May 2022

Scotland

Operating the largest lettings agency in Scotland, our branch network covers the strategic locations of Edinburgh, Glasgow, St Andrews and Aberdeen.

David Alexander Regional CEO

to same period three months earlier

“Sales activity remains buoyant with property prices remaining firm. Rental properties continue to let quickly and at asking price.”

Strong buyer affordability underpins the sales market

Sales demand

Relatively high buyer affordability across Scotland’s sales markets continues to underpin activity levels with strong home mover and first-time buyer demand in our markets. House prices are currently 4.4 times average annual earnings for Scotland, substantially lower than the UK average at 6.8 times. Furthermore, first-time buyer mortgage payments as a percentage of take-home pay are the lowest of any region in the United Kingdom (Nationwide). Home mover and first-time buyer demand in our market areas is up compared to the start of the year. Many home movers are looking to upsize; houses with three or more bedrooms in our towns and suburbs are in high demand. First-time buyers are currently seeking ready-to-move into smaller one and two-bedroom apartments, which form a key focus for those seeking citycentre living.

Strong demand for properties north of the border continues to support pricing. At present the majority of our network sales are at, or in excess of, the Home Valuation Report. Monthon-month and year-on-year price

growth in Edinburgh, Glasgow, St Andrews and Aberdeenshire has softened considerably from a year ago, but as yet there is little evidence of significant price moderation (UK HPI).

Rental records

A shortage of supply and continued high demand continue to underpin rental market activity, with 75% of properties let within a week of listing. Double-digit annual rental growth for newly-agreed lets is evident in many areas. There is considerably less movement in the market as many renters are choosing to stay put.

Renter affordability in Scotland varies by area*.

22.2%

First-time buyer mortgage payments as a % of take home pay

Nationwide, UK HPI

Renters are protected by a moratorium on evictions and a 3% cap on rent rises until the end of September 2023 at the earliest. Private landlords can apply to Rent Service Scotland to increase rents to cover up to 50% of increased costs relating to mortgage interest payments, insurance premiums and service charges, to a maximum of 6%. Across Scotland the median proportion of gross income spent on rent is currently 22.8%, slightly higher than the five-year average (22.1%). The current median income of a renter is just shy of £29,000 (DRMA). There are however distinct variations, reflecting the specific natures of our market areas.

From The Pennines to the east coast, The Dales to The Peaks, our branches span the breadth and depth of Yorkshire.

“Sales and lettings market activity is stronger than at the start of the year, and we have a good stock of properties available for those looking to buy or rent.”

Martin Elliott Regional CEO

15338

Number of properties under management Yorkshire

A stable market

Affordability

At 5.3 times average annual earnings, Nationwide report that average house prices in Yorkshire and the Humber are the most affordable of any region in England, except for the North of England. Across our market many buyers are proceeding despite wider concerns.

In excess of 70% of home movers and over 90% of first-time buyers in our region currently benefit from zero Stamp Duty Land Tax when purchasing as their only residence. In the past year more than nine in every ten apartments in Leeds, Bradford and Hull, and over two-thirds of those sold in York and Harrogate sold for less than the £250,000 tax threshold. Of all houses with three bedrooms or more sold in the region, 87% were under £250,000¹.

Leeds leads the way

Across the region we now manage over 15,000 rental properties, up 19% year-on-year², and we are still seeing lots of potential investor landlords willing to buy. Leeds is setting the pace for investment activity. With indicative gross yields of 6.3% for a onebedroom apartment and 7.1% for

70% of sales in Yorkshire are below the £250,000 Stamp Duty Land Tax threshold.

Leeds Railway station is the third busiest station in the country outside of London, providing access to the city’s cafés, restaurants, shopping, culture and nightlife and over 134,000 job opportunities5

Renter requirements

For agents, landlords and renters alike, changes to Section 21 and Section 8 legislation within the proposed Renter Reform Bill are undoubtedly those of most interest. For landlords, any requirements relating to improved energy efficiency will also be keenly awaited. Over 93% of properties let in the past year have the potential to reach an EPC ‘C’ or above, although at present just 48% achieve this 3 For renters, regulations that makes it easier to move in or between properties with a pet will be highly significant.

a 2-bedroom (DRMA)3, Leeds city centre and its suburbs are a hot spot for activity.

More than £3.9 billion has been invested in the city, with a further £7.3 billion of development in the pipeline and under construction over the next decade. This will continue to boost the economy which is forecast to grow by 21% 4

Pet friendly

43%

Apartment

Terraced Semidetached Detached

Dataloft, Land Registry, DLUHC, based on property sales over past 12 months

Lomond

Of renters request that pets allowed is a ‘must have’

Manchester and the North West

Covering

“Prices are correcting after unstainable growth over the last few years. It remains a good time to buy, with prices only set to increase in the long term.”

Jason Watkin Regional CEO

A long-term view

Appetite remains

Throughout our region, activity is steady across all price points, with Manchester’s high levels of employment and investment keeping the market afloat, despite recent turbulence. Demand is high in the suburbs for properties between £300-£400k, and apartments in the city remain popular. Rising costs mean well-insulated, energy-efficient properties are increasingly in demand. Multiple viewings and offers are still occurring for high quality properties priced correctly, with around two out of three of our properties agreed at above asking prices. However, realism by vendors is critical as buyers are particularly diligent about price point.

Long-term investment

With mortgage volatility and increasing legislation, we are seeing some landlords in the city selling up, and fewer new landlords registering. The landlords exiting tend to be those with only one or two properties, who are concerned about increasing costs and legislation in the sector.

Professional landlords are still taking the opportunity to buy at good prices, with good yields, supported by the

£

for

particularly with a post-Covid shift back to city-centre living. Manchester experienced the second highest rental growth of the UK cities, with an annual increase of 13% (Zoopla). Most of our properties are let within a week, and we are noticing tenants are staying longer and renewing more. Renters in Manchester are spending an average of 25% of their income on rent (Dataloft Rental Market Analytics, March to May 2023). Assuming a renter affordability threshold of 30%, renters are currently within their affordability limits. Location is of top importance, with outdoor space or home working space a nice-to-have.

strong rental market. Houses continue to provide the best medium to long-term investment. Good advice is key in supporting landlords through a changing environment and making their investment work hard.

Rental Affordability

The rental market remains largely in the same place as the start of the year, with supply down and demand high,

Attractive yields

7.3% Average £sqft gross yield for 2-bed apartments in Manchester Local Authority

March to May 2023

Average rents

apartments in the city, and houses in the outer Manchester area, have substantially increased over the last five years.

Dataloft Rental Market Analytics, based on new tenancies let 12 months to May 2023 versus same period five years earlier. Rents in £psf.

Dataloft Rental Market Analytics

Birmingham and West Midlands

Our heart of England branches cover Birmingham, and from Cannock down to picturesque villages on the Cotswolds border.

“Coming into the busier summer months, we are seeing steady levels of demand and a seasonal upturn in properties coming onto the market.”

Richard Crathorne Regional CEO

Acquisitions in the past 2 years

Birmingham and West Midlands

West Midlands remains best performing region

Robust market

Despite recent headwinds, the sales market is performing well, supported by high levels of employment and mobility in the market. The vast majority of our sales are within 5% of asking price, however the importance of good pricing remains paramount. The West Midlands remains the UK’s best performing region in the most recent Halifax House Price Index, with average sale prices up 2.7% year-onyear. The market is still undersupplied, but demand has improved since the start of the year, with a good uptake of registered buyers, and increasing buyer interest. Buyers seem to be accepting a new normal and building extra costs into their affordability as the core reasons why people move remain unchanged.

Mortgage advice

In light of current mortgage market volatility, we are seeing an increase in mortgage appointments. Despite less availability, products are more versatile, meaning financial advice from an experienced team is proving increasingly beneficial in helping customers to navigate the changing lending environment.

Homes of three or more bedrooms are the most popular property type in the West Midlands region.

The average price of houses with three or more bedrooms in our suburban areas has increased by over 8% year-on-year (Dataloft).

Rental market

The market continues to run very hot, underpinned by the supply demand imbalance and supported by young, affluent renters. Apartment living is strong in Birmingham, making up 57% of properties let. Two-bed apartments in the city and two and three-bed houses in the suburbs remain highly attractive, providing opportunities to work from home or attracting couples/ sharers, who make up 44% of the renter market (Dataloft Rental Market Analytics).

42% Step on the ladder

Futureproofing

First-time buyers (FTBs) are highly active in our market, as pressure on renters shows no sign of relenting. Two-bed apartments in the city centre, and three and four-bed houses in the suburbs, are in demand, as buyers aim to future-proof their purchase.

of properties sold in our area are under the firsttime buyer average price.

Average FTB buyer price: £204,338 (West Midlands)

South Coast

Reaching from Chichester to Camber, our network of south coast branches are market leaders for sales and lettings.

“Buyers in the market are keen and serious to take the next step on their property journey. They have sought financial advice and properties priced sensibly continue to sell well.”

Paul Broomham Regional CEO

Number of branches

Coast

Serious and sensible buyers

Buyer preferences

Across our area we have a good mix of first-time buyers, home movers and downsizers actively seeking properties. Newly-launched properties are attracting interest leading to offers, with the majority of sales agreed within 5% of the initial sales price1. Location and access to amenities continue to rank highly in buyer decision making, although many are also looking at condition. Well-presented and energy-efficient properties are popular.

Nearly half (47%) of all properties sold in Brighton over the past year have been apartments. First-time buyers more often seek one-bedroom, or where budgets allow, two-bedroom apartments to provide the flexibility to work from home, accommodate guests or to future proof. In 2023 to date, 20% of applicants have stated a balcony is on their wish list and 14% a roof terrace, perhaps reflecting the desire for a coastal view 2

In Worthing 11.5% of all sales over the past year have been bungalows, a popular property choice for downsizers. Apartments/maisonettes

are also sought after. Downsizers can often release equity as part of a property sale, with significant savings to be made dependent on location and the type of property. The proportion of cash sales in our area has risen in recent months; one in three sales to date in 2023 has been a cash purchase, up from 28% in 2019 2

Alternative options

The rental market in our area continues to be fast paced, an uptick in supply is failing to keep up with renter demand. In the main renters are accepting that they need to spend more or are

widening their search area. For those with a specific budget, renters are considering better quality house shares as opposed to renting on their own, with couples renting smaller apartments than previously. Less than one in three (31%) of all new onebedroom apartment lets in the past year have been to a single occupant, down from over half (57%) three years ago 3. While we are seeing a slight reduction in the private sector investment market, interest in the holiday lets markets has grown, with developments such as Brighton Marina proving highly popular.

Brighton, Hove and Worthing

1-bed apartments

1 in 4 properties let in the past year, compared to 1 in 5 previous year

Downsizing offers the chance to release equity.

Dataloft, Land Registry, DLUHC, based on median values of sales Q2 2022 to Q1 2023

Dataloft Rental Market Analytics, based on new tenancies let across Brighton and Hove, and Worthing, based on new tenancies started in the past 12 months

2,000

Build to Rent (both multifamily and single-family housing) units under Lomond Investment Management by the end of 2023.

Source: Lomond

Lomond Investment Management

Expansion and diversification

UK residential investment has materially changed in the last decade with the growing involvement of institutional investors. The Investment Property Forum (IPF) estimated that the value of the UK private rented sector (PRS) more than trebled between 2012 and 2018. In 2022 alone, institutions invested over £4bn.

Institutional investors are actively seeking opportunities across the UK, acquiring stock and building at scale, to bring a wide range of new products to market and setting new rent levels in many places. The presence of these large-scale operators and investors will continue. Based on the number of schemes currently in the planning pipeline, there could be 251,000 Build to Rent (BTR) homes across the UK in the next few years, expanding by 205% the stock of BTR homes already completed. While up until now largely comprising multi-family city apartments, the sector is quickly expanding into high-quality, professionally-managed houses in suburban areas, known as singlefamily housing (SFH). H1 2023 saw the highest level of investment in SFH on record, at £408m.

9%

Growth in BTR sector in the last year

Source: British Property Federation (BPF)

Bespoke property services

Acknowledging this growth, yet recognising the complexities and unique requirements of portfolio and asset management, we have built a strong team of experienced industry experts to successfully navigate the entire investment journey.

Uniquely positioned to be able to draw on the local experience of our national network of over 60 branches, together with asset and property managers, Lomond Investment Management (LIM) provides an account-managed single point of contact service for developers and investors in the Build to Rent, single-family housing, lettings and offshore markets throughout the UK, irrespective of portfolio size and geographical location. With a strong pipeline, the number of these properties under LIM management is set to double by the end of 2023.

“Benefitting from the national coverage of our network, Lomond Investment Management (LIM) offers a centrallymanaged, bespoke and innovative service to BTR and single-family housing providers, developers and investors focused on maximising return and mitigating risk.”

Lucy Jones Chief Operating Officer

A new way to rent

A healthy planning pipeline

London and regional BTR, including single-family housing at end of Q1 2023

A growing share

The number of homes in the institutional private rented sector has more than doubled in the past five years. Although BTR makes up just 2% of the UK’s private rental stock today, the schemes already in planning will raise that to 5% in the near future and to 10% in London. Some experts predict it could reach 40% of all rental stock. Although early investment was concentrated in the capital, the regional markets have grown at twice the rate of London in the last 12 months. Today, 66% of homes in the BTR planning pipeline are in the regions and 68.5% of those under construction. Initially the focus was on urban apartments but there is growing interest in single-family housing in more suburban locations.

Two-thirds of renters believe a sense of community is important, while pleasant neighbours matter for 87%, rating more highly than broadband speed, a parking space or garden1 .

Customer first

The Build to Rent sector has a stated ambition to transform the renter experience. Homes are purpose-built for rental and professionally managed by dedicated operators, adopting customer service values inherent in the hospitality sector. Providers actively promote community and aim to create highquality living environments where residents choose to stay for longer.

Source: Dataloft, BPF, Savills

This is reflected in the demographics. 58% of renters in BTR are couples or sharers compared to 40% in the wider private rented sector (PRS). In other ways, people who live in BTR mirror the wider renter population in age and income. The fact that more than one in five families with dependent children live in the PRS underpins the demand for single-family housing. (Census 2021).

Although eight in ten renters sign an initial lease for one year or less, more than half would welcome a longer lease and one in six (18%) would pay extra to secure a property for longer, rising to nearly one in four (23%) for families ¹. Virtually all BTR providers offer lease lengths of three years and over half (53%) of tenancies are renewed2

A rapidly-expanding sector of the rental market, Build to Rent provides renters with an appealing, flexible lifestyle and offers institutional investors diversified, long-term stable returns.

Source: British Property Federation, Savills, Molior, as at end Q1 2023 (includes units built, under construction and in pipeline)

BUILD TO RENT MARKET

Households type

Institutional investment has historically focussed on the apartment market. However, families constitute a large proportion of the private rented sector and this is a growth area for Build to Rent.

What’s included?

Community, convenience, and amenities are appealing aspects of BTR, particularly for singles and couples. A recent survey of BTR developments identified the most common facilities included in current developments. In addition to the amenities below, over half of developments surveyed included a residents’ lounge, co-working or meeting spaces and a gym in their offer.

Commonly included in BTR rents:

88% social calendar of events

85% concierge

81% shared garden and/or roof terrace

Lease lengths

One of the attractive features of Build to Rent is the choice of lease lengths. 92% of the developments recently surveyed offered lease lengths of three years. In the current environment of rising rents, longer lease lengths provide security and certainty for renters. Longer leases also give operators a stable income and can reduce void periods.

79% parcel acceptance/ storage

69% 24-hour security

Who Lives in Build to Rent, BPF, UKAA & BusinessLDN, Dataloft

Who Lives in Build to Rent, BPF, UKAA & BusinessLDN, Dataloft

Lomond Investment Management

A BESPOKE SERVICE

Our bespoke, innovative solutions are designed to maximise return and mitigate risk for investors seeking a trusted partner to manage the specialist processes of marketing and managing all aspects of their property portfolios.

We truly understand the complexities and unique requirements of all aspects of portfolio and asset management.

Marketing and lease up

• Development and Scheme pricing

• Strategic approach to maximise occupancy whilst maintaining headline rents

• Letting team available to work on and off site

• Design, consultancy and furnishing solutions

• Tenancy administration and move in services

Management

• Mobilisation

• Operational management strategy

• Combined building and apartment management

• Reactive and longer-term maintenance plans

• Block and Estates services

• Health and Safety and statutory compliance

• Budget preparation and management

• Refurbishment and consultancy services

We offer national coverage, centrally managed with a dedicated team, tailored service and integrated platforms.

Contact: lim@lomond.group

Managed developments

Hearthstone Residential

• Single-family housing

• 693 units

Services:

• Handover and mobilisation

• Nationwide leasing strategy and delivery

• Block/Estate/Property management

Off-shore trust

• Central London portfolio

• 72 units

Services:

• Lettings and Property management

Annington

• Build to Rent

• 207 units

Services:

• Handover and mobilisation

• Onsite management

• Block/Estate/Property management

Lucy Jones Chief Operating Officer

Hayley Peverley Director

Melany Roake Head of Operations

Kenny Ord Operations Manager

Lomond property services

Land and New Homes

Offering a full range of consultancy and sales and marketing services to landowners, developers and individual investors. Including research and viability reports, land consultancy and sourcing, through to turn-key marketing for land disposal, acquisitions and developments. For residential house builders and developers, our extensive database, bespoke marketing programmes, and enviable track record going back over 25 years, have seen our Land and New Homes teams appointed sales agents on many prestigious development properties throughout the UK.

Conveyancing

Working with a trusted panel of solicitors and conveyancers in your area, we speed up the moving process by up to 4 weeks. Offering end-to-end digital onboarding, Compliance, Legal Preparation, Conveyancing and Surveys, our online portal houses all important documents and provides complete visibility to all parties, tracking the progress of conveyancing in real time. A fully regulated service, providing clear, independent and professional advice.

Investment Management

Providing an account-managed single point of contact service for lettings, management, block and estates management and sales throughout the UK, irrespective of portfolio size and geographical location. We work with both Build To Rent and Single-Family Housing clients as well as Institutional and Individual Investors. Our bespoke, innovative solutions maximise return and mitigate risk for investors seeking a trusted partner to manage the specialist processes of marketing and managing all aspects of their property portfolios.

Lomond Mortgages

From online, digital services to in-branch brokers, we access the whole of the mortgage market with our specialists’ brokers. With expertise in mortgages for first time buyer, homemovers, and remortgages, as well as buy to let mortgages for the one off investor or career portfolio landlord, we provide fully independent advice and access to all major lenders.

Ed Phillips Group Chief Executive

Lucy Jones Chief Operating Officer

Ian Sutherland Chief Financial Officer

Our Lomond network

We have an established network of high quality regional sales and lettings agents across Scotland, Yorkshire, Manchester, Birmingham, Brighton and Exeter. With integrity, technology and innovation at our core, our brands are market leaders, with a competitive advantage over the strongest independents and the largest corporate and franchise agencies in the industry. Our ambition is to continue acquiring and transforming local agents across the UK, expanding existing regions and venturing into new areas.

The UK’s leading network of Sales & Lettings agents

In conjunction with Dataloft dataloft.co.uk

Dataloft is an established property market intelligence company with a long track record of analysing and reporting on the housing market. We are committed to stripping away the mystique of complex data analysis and adding value for clients through interpretation, insight and creativity.

Head Office

70 St Mary Axe, London,EC3A 8BE

Regional Offices

3rd Floor, The Senate, Southernhay Gardens, Exeter EX1 1UG

Richmond House, Lawnswood Business Park, Leeds LS16 6QY

Contact info@lomond.group

lomond.group

Disclaimer: This report is produced for general information only. While every effort has been made to ensure the accuracy of this publication, Lomond and Dataloft Ltd accepts no liability for any loss or damage of any nature arising from its use. At all times the content of this report remains the property of Lomond and/or Dataloft Ltd under copyright, and reproduction of all or part of it in any form is prohibited without written permission from Lomond and/or Dataloft Ltd. Analysis, editorial design, graphics and charts by Dataloft. Date of publication: July 2023.

Property wisdom at work