Renfrewshire

Matt McCusker

Matt McCusker - Castle Residential

“As expected, Q2 has been a busy time for us and with the higher end of the sales market beginning to plateau, the higher end of rental market has bore fruit. The PRT hasn't hugely affected our stats as yet, but we feel it is only a matter of time until tenancies begin to shorten. Recent increased regulation coupled with the financial changes imposed by the government has seen fewer new landlords entering the game, while some have actually chosen to pull out all together. There doesn't seem to be an influx of new buyers to replace these BTL investors either, so it looks like the intentions of the government have yet to be realised.”

Market Overview - Q2 2018

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 £390 0.8% 11.4% 12.1% 36 -2 11% 45%
2 bed £517 2.6% 8.2% 9.3% 39 3 13% 49%
3 bed £671 -0.3% 13.5% 9.5% 34 6 17% 59%
4 bed £1,038 11.3% 19.7% 9.0% 32 4 8% 62%
Total £529 2.1% 10.2% 11.1% 37 1 13% 49%

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
2018 107.1 110.9    

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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