Glasgow

Wendy Gallagher

Wendy Gallagher - One Stop Properties

“The impact of the Cost of Living Act is now evident. Landlords are leaving the PRS citing that punitive anti-letting government policy has relentlessly undermined the sustainability of letting property in Scotland. For the first time, we are finding that some tenants who have been issued notice to leave due to their landlord selling, are finding it extremely difficult to source alternative, reasonably priced accommodation and are unable to leave on their vacation date. The impact of this will be a surge in eviction cases being lodged with the FTT, adding even more pressure to landlords and the industry. For properties returning to the market, exorbitant rents continue to increase as availability diminishes.

Market Overview - Q2 2023

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 £831 11.7% 42.1% 75.7% 15 4 42% 88%
2 bed £1,151 13.4% 49.9% 83.0% 20 6 29% 75%
3 bed £1,689 15.3% 55.2% 94.1% 20 3 29% 73%
4 bed £2,566 17.4% 51.6% 111.4% 16 2 48% 92%
All £1,141 14.4% 49.5% 84.6% 18 4 34% 80%

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 139.7 142.9 148.3 149.4
2021 147.8 155.6 163.7 172.0
2022 171.4 175.8 184.3 195.9
2023 194.9 201.2    

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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