The Scottish rental market witnessed a marked resurgence towards the end of the second quarter 2021 sending the Scottish national average for property to rent to an all time high of £883 per month. Lockdown easing over the period saw markets return including demand for student properties which had been heavily muted earlier in the year.
Generally demand for properties of all types, 1-4 beds, was buoyant but with larger properties most consistently posting positive annual growth at the local level.
Whilst markets in commuter belt regions continued to operate at pace, demand in major cities held firm with a notable rise in Glasgow of 8.9%. Edinburgh, which posted a significant annual fall last quarter, rebounded to just minus 0.6% in Q2.
“With Covid restrictions starting to ease, we are seeing a massive surge of tenant enquiries which will help to ease the oversupply of 1 and 2 beds that the market has seen recently. This, in turn, should see rents start to level out after a slight dip in the last 12 months. Many of our investor landlords are also seeking new property to add to their portfolio which is yet another positive move for the market. All in all, the signs are looking good for the rental market in Scotland to continue to flourish and provide the country with much needed quality housing.”
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