Renfrewshire

Colin Roe

Colin Roe - Let-it

“With the political climate doing nothing for confidence, landlords are, for the most part, hanging fire in deciding whether to add to an existing portfolio or dip their toe in property investment. In addition, the abolition of tax relief for landlords for interest on their investment property is really beginning to bite and we have seen an unprecedented number of clients exiting the market over the last 3 months, leaving us questioning ’where will it end?’ The natural effect of less supply to the market is, of course, rent increases with several applicants now fighting for the same property.”

Market Overview - Q3 2019

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 3.1% 7.7% 18.0% 34 -5 13% 55%
2 bed £521 2.4% 7.4% 15.3% 35 -2 16% 52%
3 bed £668 2.0% 9.3% 11.7% 35 -3 9% 55%
4 bed £1,179 10.8% 17.9% 40.4% 34 6 20% 50%
Total £545 3.2% 10.1% 18.7% 34 -4 14% 54%

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
2019 109.0 112.8 114.3  

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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