Renfrewshire

Matt McCusker

Matt McCusker - Castle Residential

“The days of Q4 being a traditionally quiet time have long past and there are still a huge number of new tenants moving into quality rented homes. The recent ADS adjustment set in place by the Scottish Government will obviously play a role where landlords are concerned in 2019. However, with the continued deposit issue remaining for FTBs, we expect there still to be attractive sale deals and, of course, a plethora of quality potential tenants.”

Market Overview - Q4 2018

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 £394 -1.0% 7.4% 11.6% 33 2 13% 56%
2 bed £518 3.8% 8.6% 9.5% 35 2 12% 52%
3 bed £632 -6.9% -0.3% 7.1% 27 -14 19% 63%
4 bed £1,208 1.9% 35.3% 42.5% 20 -10 33% 67%
Total £521 -1.0% 6.1% 9.2% 33 0 14% 55%

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 99.8 104.0 100.0
2009 98.7 99.0 96.2 96.2
2010 104.6 96.6 101.9 100.0
2011 98.5 99.4 101.0 100.8
2012 101.0 101.5 101.5 99.8
2013 97.5 100.6 100.6 102.9
2014 100.6 98.1 103.8 104.0
2015 100.2 108.6 105.5 104.8
2016 107.5 107.5 106.1 108.2
2017 102.9 108.6 111.3 110.3
2018 107.1 110.9 110.7 109.2

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
PA1 7.10% 7.50% 7.00% 7.40% 7.3%
PA2 7.00% 6.70% 6.90% 6.40% 6.6%
PA3 9.60% 9.80% 8.90% 8.40% 8.4%
PA4 7.80% 7.90% 7.20% 7.70% 7.3%
PA5 9.10% 8.80% 8.70% 8.20% 7.8%
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