Glasgow

Brian Gilmour

Brian Gilmour - Indigo Square

“The market in Glasgow continues to be one of the strongest in Scotland. The pressure from landlords to increase rents between tenancies in anticipation of a rent cap once the tenant is in place has minimised and we have seen a stabilisation of rent increases in the latter part of 2024. The rush of landlords leaving the sector has not materialised, however we are also not seeing any new landlords coming in, especially following the overnight leap by a third, of the cost of additional dwelling supplement tax announced in the Scottish budget.”

Market Overview - Q4 2024

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 £886 0.3% 43.6% 75.4% 18 5 29% 81%
2 bed £1,192 -3.0% 44.3% 70.5% 25 4 17% 67%
3 bed £1,581 -3.1% 46.3% 71.5% 29 2 11% 59%
4 bed £1,968 0.4% 22.2% 61.6% 50 16 7% 21%
All £1,157 -1.9% 44.3% 71.9% 23 4 21% 71%

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 194.9 201.2 213.1 207.9
2024 201.8 208.6 212.0 204.1

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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