Glasgow

Brian Gilmour

Brian Gilmour - Indigo Square

“Demand in the Glasgow rental market remains strong. This is not surprising considering the factors that are impacting upon supply and demand. On supply side, affordable housing providers have built insufficient numbers for decades, the percentage of housing in the private sector has stayed static for over a decade and the past 12 months of government legislation has discouraged new landlords. On demand side, increasing interest rates have discouraged new buyers from starting their home ownership journey and universities need foreign students to augment their incomes. In short, the elements of demand outstripping supply have been compounded by government policy, driving up rents further.”

Market Overview - Q4 2023

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 £883 7.7% 51.5% 86.7% 13 3 42% 86%
2 bed £1,229 6.5% 54.8% 95.7% 21 8 28% 75%
3 bed £1,631 9.0% 57.3% 91.2% 27 9 19% 66%
4 bed £1,961 -6.4% 28.0% 67.2% 34 11 0% 55%
All £1,179 6.1% 52.9% 91.7% 19 6 32% 78%

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 147.8 155.6 163.7 172.0
2022 171.4 175.8 184.3 195.9
2023 194.9 201.2 213.1 207.9

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
G1 5.70% 4.90% 6.00% 5.80% 6.2%
G2 6.70% 7.00% 6.60% 5.90% 6.6%
G3 5.40% 5.30% 5.30% 5.30% 5.0%
G4 6.60% 5.30% 6.00% 5.90% 6.0%
G5 6.70% 6.40% 6.70% 6.40% 6.7%
G11 5.30% 5.00% 5.20% 5.20% 5.3%
G12 4.70% 4.40% 4.80% 4.20% 4.5%
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