Rentals Almost Double In Five Years

by Holyrood PR

Monday, July 23rd, 2012

PR in Scotland PR photography, citylets modern office

LETTINGS website Citylets has revealed that the number of people renting private properties in Scotland has almost doubled in the past five years, with a “generation rent” emerging from a moribund housing market – PR in Scotland

Scots are increasingly turning to the rental market because they are unable to buy or sell a home, and opting to rent for longer, according to Citylets.

However, the latest report from the lettings website also revealed that the average rent across Scotland reached £672 in the three months to the end of June, 1.4 per cent higher than the same period a year earlier.

The greatest demand continues to be from younger age groups unable to afford a deposit or mortgage and becoming resigned to renting for the long-term, said Dan Cookson, senior analyst at Citylets.

Dan commented: “Increasingly, agents are telling us that larger numbers of people are choosing to rent a home for the foreseeable future, and that this is not a short-term commitment”

Citylets is an extensive online property database containing comprehensive descriptions of flats for rent. The Citylets database allows you to personalise your search by city or town and location.

The original article can be found in The Scotsman and was secured on behalf of Citylets as a part of an ongoing PR campaign with Holyrood PR.


National PR Scotland for Edinburgh based company

Citylets, the largest website for lettings in Scotland, featured in the Scottish Dailymail discussing trends in the current rental market.

The coverage comes in light of it being revealed that the number of Scots renting their homes has doubled in four years as the recession prices a generation out of the housing market.

Vast numbers of potential first time buyers are forced to instead become first-time tenants due to soaring deposits with banks unwilling to lend.

Citylets revealed that it has seen a surge of tenants on its books with 7,170 moving into rented accomodation in the first quarter of 2008 compared with 14,170 moving in during the second quarter of this year.

Dan Cookson of Citylets said: “Increasingly agents are telling us that larger numbers of people are choosing to rent a home for the foreseeable future, and that this is not a short-term commitment.”

The full coverage was in the Scottish Dailymail and was secured on behalf of Citylets thanks to an ongoing PR campaign with Holyrood PR.

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