Jan
19
Issue 20 of Citylets Rental Report caps five full years of analysis
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
After 20 consecutive quarterly publications, the latest Citylets Report (Q4 2011) – caps five full years of analysis and reveals a thriving market where the volume of quality properties to let is higher than ever, rents are easing upwards, yet landlords are resisting any urge to squeeze tenants. Scotland’s private rented sector has coped well with the jump in demand that has materialised post credit crunch, as the banks have upped their deposit requirements and first time buyers are now obliged to save an average £25,000 for their deposit.
The overall average monthly rent in Scotland now stands at £656, a rise of 1.9 % on Q4 2010. Meanwhile, the average time to let (TTL) figures rose slightly from 35 days in Q4 2010 to 39 days in Q4 2011. Scotland-wide, the average rent for a two-bedroom flat rose 1.5% from £617 to £626 between the final quarter of 2010 and the same period in 2011. For one bedroom flats, the average rent rose 3.6% year on year, from £473 to £490.
Citylets Rent trends Q4 2011
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Dec
14
Optilet
Filed Under Citylets.co.uk News, Market News by admin | Leave a Comment
Citylets has developed Market Analysis tool Optilet to assist agents set the optimal rent by applying sophisticated analysis to the most recent market data.
Agents can now search for comparable properties by street, area or postcode and match by property type, level of furnishing, number of bedrooms and other criteria. This, in conjunction with agent expertise, allows rents to be set with a clear insight of how long the property should take to let at the asking amount.
Results can be displayed in either list or map format. The map displays the relation of rents of similar properties to precise location and the list format allows results to be ordered by criteria such as ‘time to let’.
Additionally Optilet shows the average comparable rent for the property compared to other types of property in the same area and also compared to the city-wide and national average.
Optilet draws on our expertise built up over the years through analysis work on our quarterly market reports.
For more info, please visit www.citylets.co.uk/optilet
Dec
8
Belfast rent prices hold up as house sales sag
Filed Under Belfast Property News, Blogroll, Citylets Rental Reports, Market News, Renting news by DanCookson | Leave a Comment
Large deposit requirements and a still sluggish local sales market continue to prop up rent prices in and around Belfast, with values holding their own in the face of steady tenant demand, our latest report shows.
According to the latest quarterly figures for Q3 2011 landlords in the city are now charging an average £590 a month, little changed on the same period a year ago.
Chart_rent v house price index
Oct
26
Citylets reports record volumes and rents in Q3 2011
Filed Under Citylets Rental Reports, Market News, Scottish Property News by DanCookson | Leave a Comment
Our detailed analysis of the PRS in Scotland has just been published www.citylets.co.uk/reports and certainly makes for interesting reading. The third quarter (Q3) of the year is invariably a very busy one for the Private Rented Sector (PRS) as it copes with the spike in demand generated by students and summer movers. Q3 2011 was no exception and it was actually the busiest quarter ever for Citylets with the volume of let properties up 17.5% on the year. The average rent in Scotland now stands at £670 which is an all time high and 3.2% up on Q3 2010. While this is headline news it is worth stating that this increase is still below the current rate of inflation and that affordability is not the issue it is in South East and South West of England.
Oct
17
Citylets.co.uk Wins Through on X-Factor
Filed Under Citylets.co.uk News, Market News by admin | Leave a Comment
Visitor traffic to citylets.co.uk rose 16.3% in Q3 2011 compared to the same period last year boosted in part by substantial investment in prime time TV advertising such as ITVs X-Factor.
The third quarter of the year is traditionally the busiest and once again both the monthly (August) and quarterly records fell.
Citylets.co.uk is continuing its TV investment throughout October.
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