Renfrewshire

Chris Cockburn

Chris Cockburn - Let-it

“The final quarter of 2019 gave further strong indications to us that there is continued appetite from new landlords to enter the PRS, with Paisley and wider Renfrewshire proving a sound area for investors’ strategies. The new properties being presented are to a high standard of presentation and their landlords refreshingly have a long term, sustainable approach. It’s even more optimistic given that general election campaigning was in the background during this period. This promising trend will hopefully continue into 2020.”

Market Overview - Q4 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 £396 0.5% 9.1% 13.5% 30 -3 16% 62%
2 bed £522 0.8% 6.5% 12.0% 31 -4 19% 63%
3 bed £705 11.6% 9.8% 25.9% 26 -1 19% 68%
All £541 3.8% 9.1% 17.9% 30 -3 18% 63%

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 109.0 112.8 114.3 113.4

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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