New Era For Rental Sector With Sharp Rise In Rents
Monday, January 21st, 2013
on behalf of Citylets
Local Coverage for Property Rental Agency
A new era for the rental sector has been confirmed across Scotland, particularly in Edinburgh and Aberdeen.
Dan Cookson, Senior Analyst at Citylets, believes the rise could be partly as a result of the abolishment of tenant fees and other important changes made during 2012. While many property commentators have predicted the changes would have an inflationary impact, the Citylets report seems to provide concrete evidence.
Mr Cookson added: “Our report for the last quarter of 2012 is significant in that it is the first to cover a period after the changes in the sector in 2012 took hold.”
“Two cities have seen some of the biggest rises in rents – Edinburgh (up 5.1%) and Aberdeen (up 6.3%) – these annual increases are the largest experienced in either city during the last 5 years.
“There is certainly a suspicion that the recent banning of agent fees to tenants has had an upward impact on rents. Several agent clients have suggested this to be the case and our data seems to support this view.”