Renfrewshire

Matt McCusker

Matt McCusker - Castle Residential

“Despite the resurgence of the sales market, the market for lettings has remained very strong and shows no signs of slowing. With our toes now wet with the new PRT, it seems tenants and landlords alike have taken this in their stride and numbers remain positive across the board. Competition for properties continues to grow and we are actively looking for new landlords offering quality accommodation who require representation. There remains some BTL gold tucked away in the sales market, so the time is now for landlords looking to expand, particularly since we expect a sharp rise in competition early in 2018.”

Market Overview - Q4 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 £398 4.5% 9.6% 15.0% 31 -5 14% 59%
2 bed £499 -2.7% 1.8% 4.2% 33 1 16% 53%
3 bed £679 3.0% 5.8% 12.0% 41 10 11% 45%
All £526 1.9% 6.0% 10.5% 33 0 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 102.9 108.6 111.3 110.3

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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