Scotland’s private rented sector remains strong according to the latest data from Citylets, a lettings portal.
Figures to end of December 2014 show that national rents have risen 7.9 per cent in the last year to stand at an average of £732 per month. This contrasts with just one per cent growth in 2013.
The Scotland figure is heavily influenced by strong annual rises in three of the country’s main cities – Edinburgh (up 9.5 per cent), Glasgow (9.4 per cent) and Aberdeen (8.0 per cent). Dundee registered a rise of only 3.2 per cent over the year.
Citylets claims the fourth quarter of the year is traditionally the quietest for lettings activity where seasonal falls are common. However 2014’s dip in average national rents barely registered at just £4 down from the country’s all time high of £736 seen in quarter three last year.
Citylets suggests there is concern that the private rental market in parts of Scotland is experiencing severe shortages in supply – particularly Aberdeen.
“At the risk of sounding like a broken record, Scotland needs more homes built and fast- across all tenures. There is nothing new on that subject that can be said, we just need the figures to be acted upon now” says Citylets managing director Thomas Ashdown.
Central Letting Services – Glasgow Letting Agents – The Letting Experts