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.
May
6
The Citylets Report Q1 2011
Filed Under Aberdeen Property News, Citylets Rental Reports, Market News, Renting news, Scottish Property News by DanCookson | Leave a Comment
The Scotsman ran a feature in its Smart Money section about the latest Citylets Report, which revealed that rents are continuing to perform strongly in Edinburgh and Aberdeen. http://thescotsman.scotsman.com/business/Rising-demand-from-frustrated-buyers.6754741.jp
In Q1 2011 average rents in the Granite City rose to £907 the highest they have ever been.
Key drivers of the expansion of the Private Rented Sector have been the steadily expanding number of households in Scotland and the ongoing barriers facing people wanting to enter the property sales market – with many would-be buyers not able to afford a deposit for a property of their own and having to rent instead. Some existing home-owners with equity are selling up and moving in to the rented sector because it gives them the flexibility and time to monitor the sales market and buy quickly when they see the right property.
BBC Scotland ran a piece on the rise in popularity of renting earlier today.
Rental properties ‘preferred option’ – you can see it here:
http://www.bbc.co.uk/news/uk-scotland-13292951
Feb
11
The Citylets Belfast quarterly report Q4 2010
Filed Under Belfast Property News, Citylets Rental Reports, Did you Know...?, Letting agents, Market News, Property by DanCookson | Comments Off
Our Citylets Belfast quarterly report Q4 2010 was released this week and we were delighted with the coverage it received in the media. The Private Rented Sector is playing an increasingly pivotal role in the provision of housing in Northern Ireland and our ongoing monitoring of trends in both rent values and ‘time to let’ is recognised as being of real relevance in a sector that has not traditionally had much meaningful current research.
http://www.build.ie/construction_news.asp?newsid=122718
The overall Time to Let (TTL) for the greater Belfast Area lengthened in Q3 to 56 days which seems to have led to a softening of overall rent values in Q4. Encouragingly though the TTL figures dropped in Q4 2010 to 48 days which bodes well for rental values in Q1 2011.
To download your copy of the latest report visit http://www.citylets.co.uk/reports/
Jan
25
The Citylets Report Q4 2010
Filed Under Citylets Rental Reports, Edinburgh Property News, Glasgow Property News, Market News, Property, Renting news, Scottish Property News by DanCookson | 1 Comment
While Scotland’s property sales market continues to struggle, the rental sector is performing strongly – with rents continuing to rise across the country and properties being leased to tenants quicker than at any other time in the last three years.
The latest Citylets quarterly data report saw the average rental price in Scotland rise by 2.2% over the past year to £644.The figures also show that the average time taken for properties to let in Scotland has fallen to 35 days – the lowest it has been since the height of the credit crunch in 2008 when there was a surge of demand for rental property.
And in Edinburgh, rents are now at their highest-ever levels with the mix adjusted price for all property being £772 up 5% on the previous year. The average rental price for a 2 bed property currently stands at £704 (up 5.5% on 2009 levels), while the average rent for 3-bed properties has risen by 9.8% over the past 12 months to £1054.
Trends-in-Scottish-rents
A copy of the report is available at www.citylets.co.uk/reports
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