Rental properties in Glasgow recorded a notable rise of 3.9 per cent in Q4 2018, up 33.6 per cent in a decade and bringing the year on year figure to £771, according to the Citylets Quarterly Report. The average property in Glasgow took 25 days to let, with 22 per cent being let within a week.
Scotland’s average cost for renting a one-bed flat in Q4 2018 was £583; up 4.1 per cent on the previous year, and an increase of 22.2 per cent compared with a decade ago. A one-bed took on average 28 days to let, 20 per cent of which were let within the week and 65 per cent in the month.
While Glasgow’s one-bed rented properties cost the same as the national average (£583), with rent prices remaining unchanged on the previous year, this figure was still a 28.4 per cent jump on data from 10 years ago and recorded an average period to rent of just 20 days.
Scotland’s capital had the most significant rental price change for one-beds according to the report, a rise of 8.5 per cent on 2017’s figures, and a 45.9 per cent increase compared with 10 years ago. The average rent for a one-bed property in Edinburgh was £779 and took a total of 19 days to let, of which 27 per cent were let within seven days.
Aberdeen’s figures had fallen in the last quarter of 2018 with average rent costing £465, a 4.9 per cent decrease on the previous year and 17.7 per cent down on figures from a decade ago. The average time to let was 46 days in Aberdeen, with just nine per cent being let within a week.
If you are considering buying or selling your home, you need specialist legal advice and representation from a qualified conveyancing solicitor. Get in touch with our team today via the online enquiry form.