Renfrewshire

Daryl Harper

Daryl Harper - Castle Residential

“In Q3 2023, the Paisley property market has remained buoyant with demand for both rentals and sales driven by Paisley’s appeal as a commuter-friendly location near Glasgow. The rental market is robust, offering stability for landlords. New developments and government policies continue to influence the market, with ongoing urban projects enhancing certain neighbourhoods. While predictions are uncertain, Paisley’s strategic location and development projects are likely to sustain demand but external factors can impact market stability. Working with local agents is crucial for navigating this evolving market.”

Market Overview - Q3 2023

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 £557 14.1% 45.8% 56.9% 16 2 42% 82%
2 bed £766 20.8% 50.5% 61.6% 13 -1 48% 88%
3 bed £964 21.4% 47.2% 59.6% 22 7 28% 69%
All £783 19.2% 48.3% 63.1% 17 3 40% 81%

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 119.5 120.3 125.8 134.6
2022 130.8 132.7 137.7 149.5
2023 153.2 156.2 164.2  

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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