Mixed signals have also been reported in Glasgow with tenants shopping around more for properties. However the data for Q1 2019 shows the Glasgow rental market remains steady overall posting 2.9% annual growth to average £771 per month, same as last quarter. Growth however has returned to more familiar sanguine territory after a marked jump in Q3 2018. The gap with Aberdeen continues to widen and property to rent in Glasgow takes 31 days to let on average, unchanged on Q1 last year. Demand for 1 bed properties remains buoyant with TTLs of 25 days and 66% let within a month.
“Q1 2019 has seen a slower than normal start to the year, which may be in part due to the uncertainty over Brexit. We’re expecting to see a surge of enquiries during Q2 & Q3. Agent registration has been a huge positive for the industry, however, the continual financial strain on landlords through increased tax and legislative changes, including the introduction of the PRT, has seen some landlords exit the market. This will have an impact on rents due to lack of supply and we expect to see rents increasing throughout the year.”
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