Renfrewshire

Jacqueline McLelland

Jacqueline McLelland - Castle Residential

“Following on from the first quarter of 2021, the rental market within Renfrewshire has been in high demand. With the pandemic restrictions having remained in tier 2 for some time now, we are starting to see more elements of normality within the business dynamic. We have seen the market for Renfrewshire grow tremendously with Paisley being named “Britain’s property hotspot” for 2021. The summer season is coming along and with that, there has been a significant desire for properties with garden access. With the end of Covid-19 restrictions insight, we hope to see the rental market’s momentum continue to grow.”

Market Overview - Q2 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 £431 9.4% 13.4% 21.4% 20 -40 26% 74%
2 bed £566 5.0% 11.4% 18.4% 19 -29 33% 79%
3 bed £680 6.1% 9.5% 14.5% 30 -13 34% 63%
All £569 8.6% 10.9% 20.0% 20 -32 30% 75%

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 119.5 119.3    

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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