Aug
11
Filed Under Belfast Property News, Citylets Rental Reports, Market News, Renting news by DanCookson | Leave a Comment
The second issue of our quarterly report into the private rented sector in Belfast (Q2 2010) received some excellent coverage in the local media. Print, Radio and Online Media all covered the story (Irish Times and Belfast Telegraph) as well as specialist Property media such as PropertyWeek .
Key findings from the report include a 3.7% rise in average monthly rents from Q1 (£544) to Q2 (£564) though this represented an annual decline of 6.6%. However, the average time it takes a landlord to let a property has continued to fall over the year for all property sizes.
To download your copy of the latest report visit http://www.citylets.co.uk/reports/
Jul
30
Trends in Scottish Residential Lettings Q2 2010
Filed Under Aberdeen Property News, Citylets Rental Reports, Edinburgh Property News, Glasgow Property News, Market News, Renting news, Scottish Property News by DanCookson | Leave a Comment
We were really pleased that the BBC published our recent analysis of the Private Rented Sector in Scotland http://www.bbc.co.uk/news/uk-scotland-10698297
If you have not seen it our latest issue (No 14) of ‘Trends in Scottish Residential Lettings’ for Q2 2010 reported average monthly rents at £654 in Scotland, a 3.3% rise over the year. Rents in the 3 largest Cities eased upwards over the year as well. In Q2 2010 Edinburgh had an average monthly rent of £755, up 4.3% on the year, while Aberdeen rents were £854 up 2.0%. Glasgow saw rents of £590 which were up 2.6% on the previous year.
The Citylets Rental Index for Scotland stood at 110.9 in June which is the second highest figure recorded since the Index was initiated four and a half years ago (Jan 2006 =100). This and the steadily improving Time to Let figures are a clear indication of the increased demand for good quality rental property. Many tenants are extending their leases and pondering their first steps on to the property owning ladder.
To download your copy of the latest report visit http://www.citylets.co.uk/reports/
Jul
9
Most Expensive Area to Rent a Two Bedroom Flat
Filed Under Citylets Rental Reports, Citylets.co.uk News, Did you Know...?, Glasgow Property News, Market News, Renting news, Scottish Property News by DanCookson | Leave a Comment
Citylets has revealed figures showing for the first time the locations of the country’s most and least expensive rental areas.
The research shows that Glasgow’s Park neighbourhood http://goo.gl/2yAR is the top rental hotspot in Scotland, with the average rent for a 2-bed property standing at £1104, closely followed by Aberdeen and Edinburgh’s West End districts.
The cheapest area to rent is Johnstone in Renfrewshire, where the average rent for a 2-bed flat currently stands at £421.
This local area information will now be included in Citylets’ quarterly data reports, which provide the most in-depth analysis of the country’s rental market. The Q2 2010 Report will be published in the coming week.
May
5
Citylets Rental Report Q1 2010
Filed Under Aberdeen Property News, Citylets Rental Reports, Did you Know...?, Edinburgh Property News, Glasgow Property News, Market News, Renting news, Scottish Property News by DanCookson | Leave a Comment
Our latest Citylets Rental Report for Scotland saw average monthly rents standing at £638, a small 1.3% (£8) rise between Q4 2009 and Q1 2010 and an increase of just £1 on the previous year’s figure. The 3 main cities also saw remarkably stable rents over the year. In Q1 2010 Edinburgh the average monthly rent was £740, and in Aberdeen £858 both figures down just £1 from Q1 2009. Glasgow rents were £591 up £11 (1.9%) on the previous year. We have started to drill down and analyse local areas in our reports and the most expensive neighbourhood to rent a 2 bed flat in Scotland is Park (Glasgow).
Our Top Ten is listed below:
Copies of the latest Citylets Rental Report for Scotland can be downloaded here: Citylets Rental Report
Jan
29
Citylets Rental Report Q4 2009 – Encouraging Signs for 2010
Filed Under Citylets Rental Reports, Did you Know...?, Market News, Renting news, Scottish Property News by DanCookson | Leave a Comment
The latest Citylets Quarterly Report for Q4 2009 shows that Scotland’s private letting sector is shaping up well for 2010 as demand increases for rental properties.
Scottish Landlords have seen the time to let (TTL) – a key market indicator – come down significantly throughout 2009 which if it continues will lead to a rise in rents. The final quarter of 2009 saw average residential rents in Scotland soften slightly to £630 representing a modest 2.5% fall compared to Q4 in the previous year. The latest quarter is just £10 down on the Q3 2009 figures but this masks recent slight upturns in the Edinburgh and Aberdeen markets.
However, the TTL has come down dramatically in certain sectors of the market. Edinburgh for example saw 1 bed properties take one week less to rent in Q4 than in Q3 (35 days to 28 days). The same reduction in TTL was seen across all Edinburgh rental property (41 days to 34 days). Significant improvements in TTL were also seen in Glasgow which saw 1 bed properties taking 8 less days to let (40 days to 32 days) and 2 bed properties 4 less days (39 days to 35 days).
Overall these indicators suggest the private rental market has adapted well to the downward shift in the housing sales market that was seen in late 2008 early 2009 and will continue to provide good returns to landlords in 2010. The likelihood is that yields on residential rental property are going to improve and this is something we will endeavour to explore in more detail in future analysis.
You can download the full market report here: http://www.citylets.co.uk/reports/
keep looking »
Twitter
RSS