Renfrewshire

Daryl Harper

Daryl Harper - Castle Residential

“The rental market in Renfrewshire continues to offer a diverse range of properties making it an appealing location for both renters and investors. Renfrewshire is recognised as a promising investment area, providing strong rental yields and more affordable property prices. During Q3, we observed notable growth in both rental prices and demand throughout Renfrewshire, a trend which has extended into Q4. This Christmas season in 2024 is expected to be particularly busy with increased demand reflecting heightened interest from renters seeking accommodations for the festive season and sustained strong interest from long-term tenants.”

Market Overview - Q4 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 £591 -1.7% 49.2% 62.8% 13 0 36% 96%
2 bed £826 5.2% 58.2% 68.6% 19 0 16% 82%
3 bed £1,072 5.6% 52.1% 67.0% 22 1 18% 67%
All £827 3.6% 52.9% 66.7% 18 1 21% 83%

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 173.4 170.6 171.9 173.4

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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