With average rents in Glasgow recording a high 15% annual uplift last quarter, the market pushed higher still at 16% YOY to average £972 per month. TTLs remain at historic low levels, now 13 days, representing a slight improvement on last quarter (9 days) and a slight increase in stocks though still at circa 33% of what would have been observed pre-pandemic era. As per Edinburgh, the larger the property the higher the growth with a 10 year rate now surpassing the capital for all 1-4 bed sizes.
“The first quarter of 2022 started with renewed optimism. Whilst some landlords have continued to leave the market, our existing landlords have been rewarded with unprecedented increases in rent. We have also seen an influx of new landlords with an appetite to invest in the property sector, come to the rental market with a long-term investment vision. Whilst the increased rents are promising, we need to be considerate of the impact of the rising cost of living for tenants (energy, fuel, food, etc.). As the Covid tenancy restrictions (which were implemented by the Scottish Government) come to an end, there is positivity for a fairer outlook for landlords.”
I am a Tenant Landlord
