Renfrewshire

Ben Sweenie

Ben Sweenie - Castle Residential

“With the arrival of 2022 the rental market in Renfrewshire still maintained its high demand. However, as the quarter progressed, we began to see this demand being met with an increase of available stock. The easing of Covid-19 restrictions has given agencies the ability to return to offices and resume in person tasks, with many opting for a hybrid approach to reinvigorate the lettings experience for both staff and clients. As we approach quarter two, we hope to see a continuation of the momentum present in quarter one but with an increased availability of stock to meet the demand.”

Market Overview - Q1 2022

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 £449 8.5% 16.3% 26.5% 15 -7 41% 85%
2 bed £620 11.3% 26.3% 27.6% 15 -4 38% 87%
3 bed £783 12.7% 23.7% 26.7% 22 -6 11% 74%
All £624 9.5% 27.1% 29.5% 16 -5 36% 84%

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 115.3 109.9 117.6 120.8
2021 119.5 119.3 125.8 134.6
2022 130.8      

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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