Round up on the rental market in Glasgow in 201615 Dec 2016
The rental market this year has been a little unusual for us in Glasgow and the surrounding areas!
It started out quite strong and followed the normal seasonal trend with things ramping up as we moved towards the traditional Summer manic period. There seemed to be good demand from buy to let investors, many looking to cash in their pensions and buy a property to rent and tenant demand was great. However with Brexit came a very unsteady period with very few properties coming to the market and we certainly got a feeling that the market was holding their breath to see what happened, so what is normally our busiest time, September into early October, was actually quieter than usual. Still tenants keen to rent, but supply was tight.
Since November the market has really kicked up a gear and we have seen a lot of new properties coming to the market achieving good rents, in fact December to date has been extremely busy!
What’s happened to rents this year?
Generally we have seen rents going up across the board and we have complied a TOP 10 of the areas around Glasgow where rents have increased the most – it compares rent achieved in 2015 to rent achieved in 2016. It’s really interesting to look at the areas seeing the biggest increases with City Center (G2) at the top and occupying 2 other slots in the top 10 (which is no surprise) but Stepps and Bishopbriggs (at number 2 and 3) showing big increases too which is perhaps more surprising! Others areas performing well are Partick, Battlefield, Kinning Park.
Check out our Top 10 rent increases below and in graphic form.
|Rent (pcm)||Rent (pcm)|
|City / St Georges X||G2||585||650||11%|
|Partick / Thornwood||G11||611||667||9%|
|MerchCity / Woodlands||G4||559||609||9%|
|Kinning Park / Ibrox||G51||506||543||7%|
|Maryhill / N. Kelvinside||G20||542||575||6%|
|Langside / Battlefield||G42||463||493||6%|
|Charing X / Finneston||G3||636||669||5%|