Glasgow

Jack Gallagher

Jack Gallagher - Western Lettings

“A quarter of contrasts, with subdued activity during lockdown, followed by an instant surge of tenant interest as restrictions were released in late June. So far, we are not seeing any downward pressure on rent levels. Perhaps this will change as redundancies rise over the remainder of the year. Many tenants who had negotiated rent deferrals have started to settle their arrears. In our case, we have cleared our backlog of vacant properties and our currently available stock is typical for this time of year. Many students are sitting on their hands, resulting in a glut of HMO properties on the market.”

Market Overview - Q2 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 £622 2.5% 22.4% 38.8% 35 9 20% 53%
2 bed £824 2.4% 18.2% 38.5% 40 9 18% 46%
3 bed £1,154 1.1% 18.4% 41.2% 40 7 20% 46%
4 bed £1,858 3.1% 34.0% 53.2% 32 5 25% 61%
All £810 1.4% 18.2% 37.3% 38 9 19% 49%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2008)

YearQ1Q2Q3Q4
2008 100.0 102.6 104.6 101.8
2009 102.3 101.4 103.0 100.7
2010 104.2 104.1 103.9 103.7
2011 102.3 106.0 106.7 105.6
2012 105.1 107.4 108.5 107.9
2013 108.1 109.0 109.0 108.5
2014 110.8 115.7 118.0 118.7
2015 119.8 120.8 120.6 123.6
2016 125.2 126.8 129.3 128.6
2017 130.5 133.2 131.9 130.9
2018 132.1 134.6 138.4 136.0
2019 136.2 140.9 141.6 141.4
2020 139.7 142.9    

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
G1 5.70% 4.90% 6.00% 5.80% 6.2%
G2 6.70% 7.00% 6.60% 5.90% 6.6%
G3 5.40% 5.30% 5.30% 5.30% 5.0%
G4 6.60% 5.30% 6.00% 5.90% 6.0%
G5 6.70% 6.40% 6.70% 6.40% 6.7%
G11 5.30% 5.00% 5.20% 5.20% 5.3%
G12 4.70% 4.40% 4.80% 4.20% 4.5%
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