The property rental market in Glasgow remains strong in 2021 despite considerable challenges for letting agents. In Q1 of 2021, areas out with Scotland’s major cities did best. The impact of home working has fundamentally altered the priorities of many renters. Increased living space and easy access to outside space have moved to the top of the list. It looks likely that this trend will continue as home working or a mixture of home/office working is predicted to remain for the foreseeable future. The other big change in 2020/2021 was the sudden drop in the seasonal student rental market. This is expected to pick up for the new academic year.
The most recent Citylets report for Q1, 2021 reports on the ongoing effects the pandemic has had on average monthly rents, average time to let (TTL) and stock levels.
Glasgow was also mentioned in Property Reporter’s “Where are the top cities and towns to invest in 2021?” article, from October 2020. The article uses data from multiple sources taking account of both past and forecasted rental yields and capital growth. For Glasgow, the key statistics make good reading.
These are very good numbers and reflects the very positive outlook for the property letting market in Glasgow.
Western Lettings is a highly accredited letting agency in Glasgow specialising in property letting and property management. If you want to find out more about our services, please get in touch or give us a call on 0141 357 0436