Glasgow

Brian Gilmour

Brian Gilmour - Indigo Square

“By the end of September, rental restrictions (freeze and then cap) will have been in place for 12 months and have had no positive impact on the challenges facing the sector. Indeed during that period, private rents in Scotland have increased at the highest rate of any country or region in the UK. The economics of demand outstripping supply continue to be the main challenge, especially in the post summer period as thousands embarking on study and new careers swell the ranks. As those few units become available, the consequence of the government action is that landlords are lifting rents as they do not know when or by how much they will be able to increase once the tenant(s) is in situ.”

Market Overview - Q3 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 £879 11.8% 47.5% 83.9% 13 3 49% 88%
2 bed £1,224 12.6% 53.4% 97.4% 16 2 42% 83%
3 bed £1,805 17.4% 59.5% 112.4% 19 1 29% 79%
4 bed £2,659 26.9% 62.8% 108.5% 31 16 19% 56%
All £1,208 15.6% 53.9% 95.5% 16 3 42% 83%

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 194.9 201.2 213.1  

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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