Renfrewshire

Jacqueline McLelland

Jacqueline McLelland - Castle Residential

“2021 has arrived and so has the buoyancy of the rental market within Renfrewshire. As restrictions have not yet eased greatly, again the business dynamic has to be one of adapting to the ever-changing rental climate. This said, the market is on the up and this cannot be ignored or should not be ignored. There is more demand for properties now, before even reaching the open market, and this is where any rental agency database is key.”

Market Overview - Q1 2021

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 £414 1.5% 7.5% 15.6% 22 -12 24% 73%
2 bed £557 3.9% 7.5% 17.5% 19 -15 37% 74%
3 bed £695 -0.9% 6.3% 11.0% 28 -14 27% 73%
All £570 3.6% 11.1% 21.3% 21 -15 31% 73%

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 115.3 109.9 117.6 120.8
2021 119.5      

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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