Citylets Announces Private Rental Market Boom
Friday, September 7th, 2012
on behalf of Citylets
Property PR for Letting Portal
Scotland’s biggest letting portal has released figures showing a significant boost in the number of long term rental properties in Scotland.
The research undertaken by Citylets has shown that the private rental market has almost doubled in the last five years.
Citylet’s results show Aberdeen to be the most expensive place to rent property in Scotland with a rise of 4.5 per cent. The increase in demand links to the booming oil and gas sector in the area. However, the time to let in Aberdeen has decreased from 32 days to 21 days.
Edinburgh, on the other hand, has only enjoyed a 2.9 per cent increase in average monthly prices. Glasgow’s increase was even less.
The survey shows that Dundee is the most affordable city in which to rent property in Scotland.
Dan Cookson, Senior Analyst with Citylets, said: “The results confirm what people have recently been describing as ‘Generation Rent’ – that a significant long-term shift in the housing market has happened.
“It was clear that the number of lets we have processed since 2008 have doubled – but even we were surprised when we looked at the figures in details and found we were actually talking about a 98 per cent increase.”
Citylets provides a user-friendly database across the whole of Scotland. The database allows users to personalise their search to suit their individual requirements.