Glasgow

Rents in Glasgow had recorded a notable rise of 4.9% in Q3 2018, a jump from its long held sanguine growth rate of between 1% and 2%. This trend continued in Q4 2018 with average rents in Glasgow up 3.9% YOY to £771, the same as the national average. Larger 3 and 4 bed properties led the rises from both the one and ten year view. TTLs remain almost unchanged on Q4 2017 for the city at 25 days on average with 1 bed properties continuing to rent fastest at just 20 days on average. With Aberdeen continuing to fall, the gap between the two cities continues to widen at £56 per month on average.

Market Overview - Q4 2018

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 £583 0.0% 23.3% 28.4% 20 1 27% 78%
2 bed £794 5.2% 26.4% 34.1% 25 2 20% 67%
3 bed £1,037 5.6% 21.6% 37.4% 34 -5 17% 54%
4 bed £1,532 18.9% 30.6% 52.4% 65 20 0% 23%
Total £771 3.9% 25.4% 33.6% 25 1 22% 69%

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

Market Composition

Yield by Popular Postcode (Flats):

Postcode20132014201520162017
G1 6.7% 6.1% 6.0% 6.2% 5.7%
G2 5.6% 8.8% 7.3% 7.5% 6.7%
G3 5.4% 6.0% 4.8% 5.5% 5.4%
G4 6.4% 6.4% 6.4% 6.5% 6.6%
G5 7.2% 7.0% 7.1% 6.8% 6.7%
G11 5.1% 5.5% 5.7% 5.4% 5.3%
G12 4.6% 4.7% 4.6% 4.8% 4.7%
Colin Macmillan

Colin Macmillan - Glasgow Property Letting

“2018 has been the most definitive year in the Scottish lettings industry for many years, with the introduction of the Register of Letting Agents and the Code of Practice. This has culminated in the lettings industry becoming much more respected and professional. At GPL we have had an exceptional year, with growth and expansion opportunities presenting themselves. Having just had our busiest December on record, we are waiting in anticipation as to what 2019 will bring and are looking forward to the many challenges that will arise.”

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.