The Glasgow market continues its rise recording 5% annual growth to stand at £755 on average. This represents consecutive rises in the rate of growth for Scotland’s largest city in advance of the peak Q3 period and seems on a fixed upward trajectory as per Edinburgh. Whilst the city average is predominantly driven by growth in the 1 and 2 bed markets, 4 bed properties recorded a significant 10.1% growth on last year. Whilst growth has continued, Glasgow has not overtaken Aberdeen this quarter as the market in the Granite City continues to level off. With £33 per month separating their average rents, Q3 2017 will provide insight as to whether the markets may yet cross over.
“Q2 has been very buoyant with many new instructions coming to the market and plenty of new tenants seeking to occupy them. All this is happening in a very busy time for all letting agents as we all prepare for the new Code of Practice and registration of letting agents before 31st Jan 2018. This will no doubt be an opportunity for diligent professional registered agents to look at increasing their management portfolios as unregistered agents will be seeking to offload their properties. We’re looking forward with a very positive perspective on the market going into 2018 and fully endorse and embrace the registration of letting agents in Scotland.”
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