Q3 2023 was every bit as frenetic in the Scottish PRS as had been expected. Rents once again rose by double digits across the country as a whole with all-time highs reached in all major cities and regions covered by the Citylets Report with the exception of Aberdeen where, by recent historical standards, rents also continue to rise substantively.
With emergency legislation having been in effect across the country for a full year as at the end of September 2023, minds have been increasingly focused on the looming March 31st 2024 date and the expiry of the second period of extension after the introduction of the Cost of Living (Tenant Protection) (Scotland) Act last October.
“Scotland’s two mains cities are still feeling the aftermath of the busy summer months with tenant demand far outstripping supply. There remains huge disparity between supply and demand. The impending short let regulations have further hampered this issue across the whole of Scotland. These landlords in the main won’t revert into the PRS as was hoped. We urgently require Scottish Government to do a big U-turn and address the housing crisis over all sectors. More encouragement, not barriers for landlords to enter the market whether they are private or institutional. We have a beautiful country and people want to live here but are increasingly finding it difficult.”
I am a Tenant Landlord
