Renfrewshire rent rises below national average

Rents in Renfrewshire and Inverclyde have increased by below the national average in the past 12 years, according to new statistics from the Scottish Government.

The private sector rent statistics (Scotland) 2010 to 2022 reveals rental prices for accommodation have increased by 32.9 per cent across the country as a whole during that time period.

However, in Renfrewshire and Inverclyde, the figure was 15.6 per cent – the fourth smallest increase after Aberdeen and Shire, Ayrshire and Dumfries and Galloway. Rent prices in the area have stayed below inflation between 2010-2022, with the consumer price index (CPI) rate of inflation for the same period being 33.1 per cent.

The average rent in Renfrewshire and Inverclyde in 2022 was £547 per month, compared to the Scotland average of £736.

In the previous year, prices in Scotland have increased by 6.2 per cent with Renfrewshire and Inverclyde at 5.6 per cent.

Between 2021 and 2022, average rents in the area have increased across all property sizes with increases for one bedroom (8.4 per cent), two bedrooms (5.6 per cent), three bedrooms (8.1 per cent), four bedrooms (5.5 per cent) and onebedroom shared properties (11.7 per cent), which compares to CPI inflation of 7.6 per cent across this time period.

Neighbouring Glasgow saw the largest increase of any area during the reporting period – with rents climbing to a whopping 52.3 per cent increase from 2010-22. In the last year, they’ve gone up by 7.7 per cent.

Castle Residential, a real estate agency based on Causeyside Street, say renters are cottoning on to the lower prices in Renfrewshire.

And as a result, they’re seeing an increasing number of people looking for properties – with the cost-of-living crisis continuing, they expect more people will start looking at the market here.

Lettings consultant Holly Campbell said: “We have noticed an increase in demand for rental properties in the last few months.

“With the festive period approaching, we have seen increased urgency for properties, as well as landlords keen to rent prior to the Christmas break.

“The current uncertainty around the cost-of-living issues has caused movement within the rental market, with tenants’ looking for more cost effective living standards and ways to reduce outgoings moving forward.

“We believe the Renfrewshire rental market is desirable to those looking to find a cost effective and buzzing area, for living, working, and socialising.

“The increase in prices across Scotland over the years has seen an increased demand in the Renfrewshire area, which has a vast array of properties from flats to houses, located in rural and urban areas, as well as in between.

“Proximity to transport links, access to all amenities including schools and universities, makes Renfrewshire a sought-after area, without the exponential prices which have been seen in other areas of Scotland over the last 10 years, of which continue to rise.”