Rental growth in Glasgow continues to accelerate, up 10.3 % over the quarter compared with annual growth of 8.9% in Q2. Demand, already underpinned by strong fundamentals, will likely have received further boost from the upcoming COP26 summit with supply reduction from some landlords switching to short term rentals, stock which may re-avail towards the end of the year. On any view, the rental market in Glasgow is currently subject to dry high demand relative to supply pushing rents up ever higher to stand at £928 on average as at Q3 2021.
“Q3 has seen unprecedented demand for properties in the private rented sector. There has been a limited supply of quality property available and this has led to inflated rental values across the city. The traditional student rush for properties has also been in the mix as many universities and colleges have decided to carry out face to face learning culminating in a late surge of demand for traditional student hotspots. With COP26 looming many landlords are seeking to profit from the short term rental demand opportunities available to delegates and visitors for the duration of the conference and we may well see these properties arrive on the market around the turn of the year.”
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