As Holyrood launch their consultation into Scotland’s ‘New Deal for Tenants’, a wide ranging set of proposals for the Private Rented Sector, the market served up a thought provoking set of figures for all stakeholders to consider. Continued high demand against constrained supply saw rents rise across Scotland, with notable spikes in both Edinburgh & Glasgow, and stock levels plummeting- particularly for larger 3 & 4 bed homes.
A fiercely competitive market towards year end for the rental properties available sent Time To Lets (TTLs) down to historic lows with Glasgow reporting an average of just 9 days.
“We have seen the main cities continue to outperform, with Glasgow and Edinburgh racing ahead. Tenant demand is still strong and hasn’t stalled since summer. Properties out with the traditional city boundaries are in high demand as they tend to have gardens and extra space for working from home and offer more space for the monthly rental. Family homes with 4 beds are in short supply. Tenants are more flexible on where they live which has been good for the rural market, pushing rents upwards.”
I am a Tenant Landlord
