Scotland rent prices soar.

by Holyrood PR

Wednesday, February 2nd, 2011

Citylets quarterly Statistics lead to great PR Scotland in Press and Journal.

Quarterly Statistics revealed by Citylets have named the West End area of Aberdeen the priciest place to rent in Scotland.

A rise in 2% has resulted in the average rent for a two-bedroom flat now stands at £825 compared to the Scottish average of £644 which rose by the same.

Analysts believe this rise is due to less people being able to purchase their own home, with homes now being leased quicker than ever before.

Dan Cookson, senior analyst at Citylets commented in the report: “The average time-to-let figure is the lowest it has been since the middle of 2008, when Scotland was experiencing the worst of the credit crunch, and rents are performing well across the three biggest cities.”

He adds: “Tighter lending and higher deposit requirements remain a huge problem for many people who cannot secure the funds to buy a home so they are choosing to rent until they can make the step on the ladder.”

In Scotland’s other major cities rent prices are also growing, in Edinburgh the two-bedroom average is £704 and for the same in Glasgow is £607. However Aberdeen still leads with prices in the West End averaging at £928 a month for a two bed flat.

A copy of this report can be found on the Citylets website and the coverage was secured as part of an ongoing media relations campaign on behalf of Citylets by the Holyrood Partnership.

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