Renfrewshire

Matt McCusker

Matt McCusker - Castle Residential

“The ever busy Q2 has not disappointed in 2017, much the opposite in fact. With student lettings and the entire PRS on the rise, rents are still growing and competition for each property seems to be becoming fiercer than ever. Whilst we are seeing a number of renters moving on, this tends to be in order to upgrade, we’re seeing a lot of tenants move within our company to larger accommodation simply due to time of life. Both of our Glasgow & Paisley offices have also increased sales figures, so growth in that side of the market doesn’t seem to be slowing the PRS.”

Market Overview - Q2 2017

BedsAverage
Rent
Rent Change
1yr
Rent Change
3yrs
Rent Change
5yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £387 1.8% 6.3% 6.0% 39 4 17% 51%
2 bed £504 -0.8% 5.9% 6.3% 36 2 11% 52%
3 bed £673 8.4% 9.6% 12.0% 28 -7 26% 68%
4 bed £933 4.4% 10.7% 4.9% 28 -10 0% 60%
Total £518 1.0% 10.7% 7.0% 36 2 15% 54%

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 99.8 104.0 100.0
2009 98.7 99.0 96.2 96.2
2010 104.6 96.6 101.9 100.0
2011 98.5 99.4 101.0 100.8
2012 101.0 101.5 101.5 99.8
2013 97.5 100.6 100.6 102.9
2014 100.6 98.1 103.8 104.0
2015 100.2 108.6 105.5 104.8
2016 107.5 107.5 106.1 108.2
2017 102.9 108.6    

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
PA1 7.10% 7.50% 7.00% 7.40% 7.3%
PA2 7.00% 6.70% 6.90% 6.40% 6.6%
PA3 9.60% 9.80% 8.90% 8.40% 8.4%
PA4 7.80% 7.90% 7.20% 7.70% 7.3%
PA5 9.10% 8.80% 8.70% 8.20% 7.8%
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