There Is A Huge Demand for Rental Properties in Glasgow
Last updated: 11.21am, Tuesday 23rd May 2023
Rental demand in Glasgow and metropolitan area is at an all time high and is set to continue.
Here are the reasons and how you can benefit from it.
By Gordon Campbell
May 2022
Glasgow is the Buy to Let Renting Capital of the UK
We have always said it.
Glasgow and its metropolitan area is the UK capital for Buy to Let Property.
It is due to its affordability, strong economic region attracting many new and diverse businesses and growing population.
As a result, a huge demand for rental properties at all levels of the market.
New properties coming onto the market for rent are achieving higher rents and massive demand.
That combined with us giving you the huge benefit of exclusive off market and below market value properties in the right location, one of the UKs strongest capital growth areas with huge rental demand and a high yield. And can be financed.
It is all there for you on a plate.
Owning a property in Glasgow and being a landlord has never been as attractive create yourself true wealth and income.
Rental Market Trend
If people renting a home continue to do so and not move onto the housing ladder at present rates then the UK will see more renting than owning a home by 2039, according to new research.
Currently home owners account for 65% of the housing market, a fall of 5% since 2010.
If there is no change in tenures then that is set to become 50.7% renting and 49.3% owning within 20 years.
The analysis from letting compliance firm VeriSmart also says that by 2045 this will have grown to 55% of the nation living in the rental sector and 45% owning their own home.
It suggests that this is not a trend driven out of necessity but rather people choosing to rent within the private sector, as during this time the number in social rental accommodation has also dropped.
Why the Continued Huge Growth in Rental Demand?
‘We are currently seeing a shifting mentality in the way we choose to live our lives and for Generation Rent there is no longer that urgency to make it out of the rental sector and secure their own ‘piece’ of bricks and mortar,’ said Jonathan Senior, chief executive officer of VeriSmart.
All these changes are making the rental sector a more attractive place to be and as a result, we are seeing more of us opt for it and stay there for much longer than we may have traditionally,’ he added.
The UK is home to the fifth highest percentage of tenant occupiers of all EU nations, behind just Germany, Austria, Denmark and France.
The Glasgow Rental Market
The Scottish property rental market has experienced a 65% reduction in available stock to let in a single quarter, due to a surge in demand.
This is due to the long term local economic growth in Glasgow and its metropolitan areas as highlighted in detail in a recent blog. http://allianceproperty-group.co.uk/items/news-section/Alliance-Property-Group-Market-Review-Q1-2022
Demand was across all property types and sizes, with additional late demand from students returning to their university cities for in-person learning.
In the RICS (Royal Institute of Chartered Surveyors) residential market survey tenant demand levels in Scotland are second only to London.
Summary
We give you the huge benefit of exclusive off market and below market value properties in the right location, one of the UKs strongest capital growth areas with huge rental demand and a high yield.
It is all there for you on a plate.
We give you a leading edge in building your portfolio that many investors can only dream of.
Owning a property in Glasgow and being a landlord has never been as attractive create yourself true wealth and income.
Thank you for reading, hope it was of interest to you and as always, feel free to contact us if we can help you make your next step in investing.
Alliance Property Group. Making a Difference