Glasgow

Demand for property to rent in Glasgow remained relatively high with rents continuing to move upwards once again at 5.8% YOY to £838 per month. In sharp contrast to Edinburgh, the largest gains were recorded for the largest properties.

Market Overview - Q1 2021

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 £650 4.8% 19.0% 44.4% 29 4 23% 61%
2 bed £859 4.2% 19.1% 44.4% 32 -2 18% 56%
3 bed £1,184 16.5% 19.5% 57.4% 30 -14 24% 56%
4 bed £1,568 24.8% 9.3% 38.4% 40 0 15% 54%
All £838 5.8% 18.0% 44.5% 31 -1 20% 58%

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 136.2 140.9 141.6 141.4
2020 139.7 142.9 148.3 149.4
2021 147.8      

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%
Fiona Herbin

Fiona Herbin - Cairn Letting & Estate Agency

“The rental market in Glasgow has remained positive in Q1 2021, with properties being reserved quickly, with multiple notes of interest received from suitable tenants for each property and at the sought after rental figure. The majority of our HMO students have remained in their current accommodation and continue to want to stay for the next academic year - looking to retain as much normality as possible despite lectures still being online. We are also seeing landlords invest money into their properties during any void periods ensuring their portfolio remains at a high quality.”

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