Glasgow is one of the best UK cities to invest in 2022, especially for buy-to-let property. Rent has steadily increased by 38.3% over the past nine years and is now £936.25 PCM, with the average time to let being 31 days.
However, the rental market has seen unprecedented demand for properties in the private rented sector. There has been a limited supply of quality property available and this has led to inflated rental values across the city.
Students set to attend the University of Glasgow have been forced to join the scramble for private rentals after they were told that their University accommodation was no longer guaranteed so there are students across Scotland right now struggling to get accommodation for the year ahead, facing a choice between sofa-surfing or paying sky-high rents. Because of this, the demand is high and we are encouraging clients to invest as there is currently not enough properties on the market.
Summary of Properties for Rent in Glasgow:
|Total properties for rent in Glasgow:||232|
|Properties for rent in Glasgow listed in the last 14 days:||98|
|Average* property rents in Glasgow:||£1,581 PCM|
Properties for Rent in Glasgow by Price
|Number of properties|
|£500 to £1,000 PCM rent||93|
|£1,000 to £2,000 PCM rent||71|
|£2,000 to £5,000 PCM rent||58|
|Rent over £5,000 PCM||4|
Property Rents in Glasgow by Number of Bedrooms
|Number of properties||Average rent|
One-bedroom properties are let the fastest, with an average time to let of only seven days – in fact, 68% of one-bedroom homes listed were let within this timeframe. This is also 11 days faster than the same time in 2020 showing how strong the demand has grown for this property type.
Four-bedroom properties also saw a steep decline in their average time to let, with a reduction of 28 days taking the new average to 15 days.
Tenants needed to be quicker than ever in Glasgow during the last quarter of 2021, as the average time to let dropped to just nine days, an annual reduction of 11 days. Now, the last quarter of 2022, is the far west, with no stock and the highest demand ever.