Glasgow

In the Glasgow rental market, trends were observed almost identical to those in Edinburgh. The market rose a significant 4.7% YOY to an all time monthly high of £799, with rises increasing according to property size. The market overall slowed by 2 days to 29 days TTL with 1 bed properties renting fastest at 26 days, just one day quicker than 4 beds at 27 days. 62% of Glasgow rentals let within a month. The annual rise of 4.7% represents a continued notable uptick in annual growth first observed in Q3 2018.

Market Overview - Q2 2019

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 £607 3.8% 21.4% 34.3% 26 1 22% 66%
2 bed £805 4.8% 21.1% 38.6% 31 3 16% 60%
3 bed £1,142 5.0% 21.4% 49.5% 33 4 17% 54%
4 bed £1,803 6.5% 38.2% 66.5% 27 -1 7% 72%
Total £799 4.7% 21.8% 39.0% 29 2 18% 62%

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
2019 136.2 140.9    

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%
Riccardo Giovanacci

Riccardo Giovanacci - Newton Letting

“The last few months have shown that Quarter 2 is still one of the most buoyant times of year – with high demand driving the market forward. Our bread and butter stock of one and two bedroom apartments throughout the West End, City Centre & Southside have been performing well, with most of our properties renting at the first viewing. This offers our clients the chance to hand pick the best possible applicants, whilst still being able to decrease the vacant period between tenancies. The gentrification of areas such as Tradeston, with the new Barclays’ Bank, should see an influx of renters over the next year in Glasgow – helping to drive prices up.”

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