The Glasgow rental market reached another significant milestone in its PRS history in Q1 2018 with average rents rising 1.2% YOY to reach £749 and bypassing the Aberdeen average. As with Edinburgh, it is notable that the annual rate of growth has settled at a lower amount than in recent years at circa 2%. The five year average for the city is 4.4% annual growth and the ten year average is 3.2%. The average property in Glasgow rents in 31 days, up 1 day on Q1 2017. As with Edinburgh, larger 4 bed properties rose most at 7.3% YOY.
“2018 Q1 has seen a very busy time at GPL with many new instructions coming to the market and a bank of active tenants taking up new PRT leases. We have been adjusting to the new Code of Practice and getting to grips with the new Private Residential Tenancies whilst at the same time merging the business with another agency. We have seen an increase in the quality properties coming to the market as landlords are becoming increasingly aware of the repairing standards required in the marketplace. We are looking forward to seeing an improvement in the housing stock in the Private Rented Sector going forward.”
I am a Tenant Landlord
