Rents increased no less than 15% to average £974 per month. TTL reduced by 11 days to average just 9 days. Annual growth of over 30% was recorded for 3 and 4 bed properties against a backdrop of severe acute supply shortage which may be short lived.
“The biggest issue affecting the Glasgow rental market has been availability of stock. House price rises have allowed many landlords to “cash-in” and take profit out of their properties, however, these sold properties have not been replaced in sufficient numbers and we have seen a shrinkage in the PRS. This shortage has been compounded by the impact of Covid and the lack of people moving, plus restrictions on evictions limiting abilities of landlords to move on tenants. For some time, the PRS has been an essential part of Scotland’s housing tenure but reduced supply and continued high demand has seen rents rise and time to let drop dramatically.”
I am a Tenant Landlord
