Aug

4

Citylets Rental Report Q2 09

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There is little good news to report this quarter.  Rents are down and falling faster than last quarter; properties are taking much longer to let than last year; and stock levels rose. The latest Citylets Report does at least show that the rate of stock growth has slowed but this will be minimal comfort to landlords in Scotland who own one and two bed flats where competition for tenants remains strong in most regions. Indeed double digit % declines in rents were recorded for some areas in Edinburgh with two bed flats in Aberdeen not far behind. Rents for larger flats to rent in Edinburgh have held steady buoyed by seasonal demand for student accommodation in Edinburgh which, unlike the supply of large flats, has increased over the years. As with elsewhere, it took longer to find tenants for rental property in Glasgow but, so far, the falls in rents have been quite small.