Renfrewshire

Ben Sweenie

Ben Sweenie - Castle Residential

“The rental market within Renfrewshire has been extremely active in the summer months, seeing an unprecedented demand coupled with proportionately low supply. With the student market returning as universities and colleges open to blended learning, this reopened this sector of the market which has previously been stifled by the restrictions and online learning. With the substantial easing of restrictions allowing for the most normality lettings have seen in some time now, there has also been a positive adoption of proficient procedures due to the Covid-19 pandemic. Now, with the autumn season peaking around the corner, we hope to see the rental market continue at this high momentum going forward.”

Market Overview - Q3 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 £432 7.5% 15.2% 19.7% 16 -18 45% 87%
2 bed £580 6.4% 19.1% 23.4% 16 -17 35% 81%
3 bed £706 1.6% 11.4% 10.3% 20 -12 35% 65%
All £600 7.0% 18.6% 24.5% 17 -16 38% 81%

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 119.5 119.3 125.8  

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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