Renfrewshire

Daryl Harper

Daryl Harper - Castle Residential

“The rental market in Glasgow and Renfrewshire has been thriving in Q2 2023, attracting professionals due to vibrant economy, cultural diversity and excellent transport connectivity. Glasgow has seen increased rental demand because of a shortage of affordable housing, with families showing interest in larger properties. Renfrewshire’s rental market also remains strong, particularly for individuals relocating for work. With increasing competition, landlords need to provide well-maintained properties to attract long-term tenants. The rental market in both areas is expected to remain profitable for landlords who invest in quality properties.”

Market Overview - Q2 2023

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 £546 17.4% 40.0% 56.0% 16 3 42% 84%
2 bed £733 19.2% 41.8% 53.3% 17 2 31% 78%
3 bed £943 19.4% 40.5% 59.6% 17 -3 27% 77%
All £745 17.7% 40.8% 55.2% 18 3 33% 78%

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 99.8 104.0 100.0
2009 98.7 99.0 96.2 96.2
2010 104.6 96.6 101.9 100.0
2011 98.5 99.4 101.0 100.8
2012 101.0 101.5 101.5 99.8
2013 97.5 100.6 100.6 102.9
2014 100.6 98.1 103.8 104.0
2015 100.2 108.6 105.5 104.8
2016 107.5 107.5 106.1 108.2
2017 102.9 108.6 111.3 110.3
2018 107.1 110.9 110.7 109.2
2019 109.0 112.8 114.3 113.4
2020 115.3 109.9 117.6 120.8
2021 119.5 120.3 125.8 134.6
2022 130.8 132.7 137.7 149.5
2023 153.2 156.2    

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
PA1 7.10% 7.50% 7.00% 7.40% 7.3%
PA2 7.00% 6.70% 6.90% 6.40% 6.6%
PA3 9.60% 9.80% 8.90% 8.40% 8.4%
PA4 7.80% 7.90% 7.20% 7.70% 7.3%
PA5 9.10% 8.80% 8.70% 8.20% 7.8%
Like most sites, Citylets uses cookies mainly to enhance user experience. By using our site we'll assume you're ok with our cookies policy.