Tuesday, July 24th, 2012
on behalf of Citylets
Building PR Scotland in Rental Market News.
New figures have revealed that the number of Scots renting homes has almost doubled over the past five years as first-time buyers struggle to get on the housing ladder.
Letting agents say that the increase signals the emergence of “Generation Rent” – young people who can’t get on the housing ladder due to demands from mortgage lenders for huge deposits.
Dan Cookson, senior analyst at rental firm Citylets, said: “What our latest figures show is that talk about ‘Generation Rent’ is absolutely right and this now looks like a significant and long-term shift in the housing market.”