Renfrewshire

Daryl Harper

Daryl Harper - Castle Residential

“The rental market in Renfrewshire offers a wide range of properties to accommodate various budgets. During this spring/early summer, we have noted that there seems to be a larger demand for three bedroom and larger properties with much less void periods. Renfrewshire has strong rental yields and relatively affordable property prices compared to Glasgow. The market is still robust and rents are on the increase and as yet have not became stagnant. Investors can find attractive opportunities in Renfrewshire, but also couples and families who are looking for longer term rentals thanks to the area’s appeal for attractive rental prices.”

Market Overview - Q2 2024

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 £604 10.6% 55.3% 65.9% 12 -4 37% 91%
2 bed £809 10.4% 53.8% 70.0% 18 1 26% 75%
3 bed £1,101 16.8% 66.6% 79.3% 27 10 22% 61%
All £815 9.4% 51.5% 74.1% 18 0 29% 77%

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 153.2 156.2 164.2 167.3
2024 173.4 170.9    

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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