Renfrewshire

Holly Campbell

Holly Campbell - Castle Residential

“In Q1 2020 we saw a steady increase in movement from the tail end of 2019. However, the unprecedented global pandemic has impacted all industries including the rental sector. New ways in which businesses work had to be sought. Virtual tours, electronic signing of leases, video conferencing etc. have ensured that the rental sector can continue to function. We are facing challenging times with rent arrears rising and an increased number of tenants serving notice to end their tenancies due to financial difficulties, however, we believe the key is to adapt and we remain confident that the PRS will overcome this difficult period.”

Market Overview - Q1 2020

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 £408 3.3% 15.3% 13.6% 34 2 13% 56%
2 bed £536 2.1% 11.7% 13.1% 34 -3 14% 56%
3 bed £701 5.7% 9.9% 8.5% 42 4 6% 44%
All £550 5.8% 15.1% 10.2% 36 0 12% 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 109.0 112.8 114.3 113.4
2020 115.3      

Market Composition

Yield by Popular Postcode (Flats):

Postcode20162017201820192020
PA1 7.40% 7.10% 7.50% 7.00% 7.40%
PA2 7.10% 7.00% 6.70% 6.90% 6.40%
PA3 10.00% 9.60% 9.80% 8.90% 8.40%
PA4 7.80% 7.80% 7.90% 7.20% 7.70%
PA5 8.40% 9.10% 8.80% 8.70% 8.20%
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