Broad Rental Market Area Profile – Renfrewshire / Inverclyde
Note in the following text and charts that average rents that have changed within +/- 0.5% could be considered as being fairly similar to previous periods.
Average (mean) 2 bedroom rents in Renfrewshire / Inverclyde have been lower than the Scotland average in each year since 2010, and the gap has widened since 2012, with the average rent in 2020 being £518 per month, compared to the Scotland average of £693.
Between 2020 and 2021, average rents have increased for 2 bedroom (1.0%) and 4 bedroom properties (13.2%), and have decreased for 1 bedroom (-2.4%), 3 bedroom (-2.5%) and 1 bedroom shared properties (-7.0%), which compares to CPI inflation of 1.5% across this time period. Although some caution is needed when interpreting the changes over time for 4 bedroom and 1 bedroom shared property size categories, given the smaller sample numbers for these categories.
Between 2010 and 2021 average rents have increased for all property sizes, ranging from 4.7% for 1 bedroom properties to 48.5% for 4 bedroom properties, which compares to CPI inflation of 24.3% across this time period.
For 3 bedroom properties sizes, there has been a decrease in the top end (upper quartile) rents and an increase in the the bottom end (lower quartile) in the latest year, causing the gap between the top and the bottom of the market to narrow.