Renfrewshire

Daryl Harper

Daryl Harper - Castle Residential

“The rental market in Renfrewshire features a diverse selection of properties to suit different budgets. It is considered a promising investment area offering strong rental returns and relatively affordable property prices compared to nearby Glasgow. Renfrewshire attracts investors with its appeal to commuters, students and families presenting numerous attractive opportunities. Rental prices vary across neighbourhoods with central areas and those near amenities typically commanding higher rates. We have seen prices and demand increase throughout Renfrewshire during Q3 which we expect will continue into Q4.”

Market Overview - Q3 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 £586 5.2% 48.7% 60.1% 11 -5 50% 92%
2 bed £823 7.4% 58.0% 69.7% 18 5 28% 76%
3 bed £1,036 7.5% 55.1% 69.6% 24 2 26% 74%
All £820 4.7% 50.5% 65.7% 18 1 33% 78%

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 173.4 170.6 171.9  

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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