Renfrewshire

Holly Campbell

Holly Campbell - Castle Residential

“We think it’s fair to say that the global situation has proven challenging and uncertain in all industries, including the rental market. With restrictions lifting and being reinstated, and the undercurrent of the pandemic, it has been a time to adapt and become proactive in terms of viewings and office procedures. It has allowed for new ways of working to be implemented in a semi-long term basis and creativity to be utilised, while ensuring properties remain compliant and that the market continues to remain in motion. Over the third quarter, maintaining properties and continuing to grow in such an uncertain time has become challenging yet rewarding.”

Market Overview - Q3 2020

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 £402 2.0% 11.4% 13.6% 34 0 25% 65%
2 bed £545 4.6% 9.4% 15.5% 33 -2 29% 65%
3 bed £695 4.0% 6.4% 19.4% 32 -3 30% 67%
All £561 2.9% 11.5% 15.4% 33 -1 28% 65%

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 107.1 110.9 110.7 109.2
2019 109.0 112.8 114.3 113.4
2020 115.3 109.9 117.6  

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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