Market conditions in Glasgow improved only marginally, from a tenant’s perspective, as it continued its trajectory of very strong growth and short TTLs. The average property to rent in Glasgow stands at £997, up 13% YOY but down from 16% annual growth record last quarter. Average TTL lengthened from 13 days to 14. Whether this marks a turning point for the now long standing high growth market remains to be seen however it is unlikely figures will be materially reduced to more comfortable levels for tenants with perhaps a return to single digit annual growth the best attainable outcome in 2022.
“The demand for property across the city is still very high, with properties continuing to let within a very short window of going on the market. As the students start to move back to the city to start back at university, we are seeing even more demand for all different sizes of properties; bigger groups are struggling to find student lets and are splitting up into 2’s and 3’s just to be able to line up properties for the upcoming academic year. The HMO market is busier than ever, with not enough larger properties to meet the demand. We are continuing to see new landlords looking to invest and let out their properties which is helping with the ever growing lettings market.”
I am a Tenant Landlord
