Citylets Hits The National property Headlines
Monday, November 26th, 2012
on behalf of Citylets
The UK’s leading lettings portal scores top PR in media
The quarterly report which provides landlords and renters with comprehensive insight into renting in Scotland has revealed that Glasgow continues to have a good mix of different priced rents which cater to both expensive and less expensive tastes.
Dan Cookson, senior analyst at Citylets said: “Glasgow dominates our list of Scotland’s 25 least expensive areas to rent, with 12 of the city’s areas featuring, making it the most affordable major city in Scotland, based on our analysis.”
Scottish PR for Citylets
Steadily rising rent figures in Scotland have come as good news for landlords and agents this week with Citylets, the leading rental portal, unveiling their new look rental report.
As well as including new areas, the report revealed that in the three months leading to September 2012, the average rent for a property in Scotland is now £672.
Citylets has advised that these increases may have taken place due to the increasing legislative pressure on landlords after there were significant changes this year to the sector including abolishing all agency fees as well as the introduction of the tenancy deposit scheme.
John Blackwood, Director of The Scottish Association of Landlords (SAL) said: “We expect rents to rise even further in 2013 as we see the full effect of legislative pressure put on the sector.”
Citylets quarterly report revealed that the cost of the most popular size of rental property has risen in the last year in most cities with a two bed property in Aberdeen costing £833, a 2.6% rise on the same time of last year.
Dan Cookson, Senior Analyst at Citylets said: “Aberdeen and Edinburgh both continue to be the most expensive places to rent as well as both having the lowest time to rent in the country, which is a great sign that the only way is up for these cities.”
Citylets quarterly reports are compiled using bespoke data tools and provide market leading in depth analysis of the state of the property market.
An Edinburgh Conference taking place as part of National Landlords day will highlight the crucial role private sector housing plays in ensuring the welfare of Scotland’s families. Welfare Minister Margaret Burgess will be highlighting the vital role of the private sector in meeting Scottish housing needs.
Scottish 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.
National Press for CityLets
The cost of renting has risen to its highest yet, with average rental prices around £672 per month.
Alongside the rising demand for properties landlords in Aberdeen have also increased prices with monthly rent costing £899 on average.
The rise is expected to continue due to legislation put into effect by the Scottish Government which bans letting agents from charging anything more than rent and refundable deposits.
Rent in Scotland overall has risen by 1%, while the cost of renting in Edinburgh has increased by 1.3%.
Commuters from West Lothian to Edinburgh could save £139 a month on a two bedroom properties which market for £536.
Almost twice as many people are renting now than there were in 2008 according to Citylets. Those that are renting are facing record rents as landlords increase prices due to legislation from the Scottish Government which prevents letting agents charging any fees other that rent and refundable deposits.
Scottish PR for letting portal Citylets
Dan Cookson, Senior Analyst at Citylets, said: “Five out of ten areas in the top ten list are in Edinburgh which shows that the market in the capital is continuing to flourish with a good mixture of properties available for the both the popular student and professionals markets”.
Glasgow and Fife came out as two of the least expensive cities to privately rent in throughout Scotland.
Dan continued: “Areas in the west of Scotland continue to remain the least expensive places to rent in the country.
“It is encouraging that we are still seeing value for money in Glasgow and other areas such as Irvine and East Kilbride, with many of these places offering rents which appeal to a variety of different tastes.”
Citylets was launched in 1999 covering Scotland and parts of N Ireland. It is currently the UKs No1 residential lettings site according to online competitive intelligence agency, Experian Hitwise, and recently won Best Niche Portal at the inaugural PropertyDRUM awards in London in May.
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