Glasgow

Colin Macmillan

Colin Macmillan - Glasgow Property Letting

“The final quarter of 2022 has been challenging across the board, to say the least. Whilst the reality of the Scottish Government’s sanctions and actions are filtering through the PRS, many traditional landlords have had enough and are exiting the market. With an over subscription of university places, we find ourselves in a perfect storm. Less properties available with unprecedented demand, equals hyper inflated rents. We also find ourselves in a cost of living crisis at probably the worst time of the year, with energy costs rising as the temperature is falling, and subsequent worries that rent arrears may increase also.”

Market Overview - Q4 2022

BedsAverage
Rent
Rent Change
1yr
Rent Change
5yrs
Rent Change
10yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £820 11.1% 40.7% 75.2% 10 3 51% 94%
2 bed £1,154 17.4% 52.8% 83.2% 13 4 43% 89%
3 bed £1,497 3.8% 52.4% 84.8% 18 5 30% 79%
4 bed £2,096 -8.8% 62.6% 77.9% 23 8 33% 80%
All £1,111 13.9% 49.7% 81.5% 13 4 45% 90%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2008)

YearQ1Q2Q3Q4
2008 100.0 102.6 104.6 101.8
2009 102.3 101.4 103.0 100.7
2010 104.2 104.1 103.9 103.7
2011 102.3 106.0 106.7 105.6
2012 105.1 107.4 108.5 107.9
2013 108.1 109.0 109.0 108.5
2014 110.8 115.7 118.0 118.7
2015 119.8 120.8 120.6 123.6
2016 125.2 126.8 129.3 128.6
2017 130.5 133.2 131.9 130.9
2018 132.1 134.6 138.4 136.0
2019 136.2 140.9 141.6 141.4
2020 139.7 142.9 148.3 149.4
2021 147.8 155.6 163.7 172.0
2022 171.4 175.8 184.3 195.9

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
G1 5.70% 4.90% 6.00% 5.80% 6.2%
G2 6.70% 7.00% 6.60% 5.90% 6.6%
G3 5.40% 5.30% 5.30% 5.30% 5.0%
G4 6.60% 5.30% 6.00% 5.90% 6.0%
G5 6.70% 6.40% 6.70% 6.40% 6.7%
G11 5.30% 5.00% 5.20% 5.20% 5.3%
G12 4.70% 4.40% 4.80% 4.20% 4.5%
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