Jun
24
Budget impact on Private Lettings Sector
Filed Under Did you Know...?, Market News, Renting news, Scottish Property News, Uncategorized by DanCookson | Leave a Comment
The recent increase in capital gains tax to 28% is likely to have an impact on the private rental sector. Although it is not as high as the 40% to 50% rises that were being suggested last week, landlords will still have to adjust to a new investment landscape in which the housing sales market is likely to be flat and where reliance on capital appreciation and disposal will not generate the returns of former years.
The majority of the 100,000 Private Landlords in Scotland have very small portfolios and are looking for capital growth on their investment. If Private Landlords are discouraged from remaining in the market by the prospects of lower capital gains and hard to get finance there is a possibility that they will withdraw from ‘buy to let’ leading to a lack of supply of suitable rental properties to meet the growing demand in the future. If this pans out rents will have to rise which will eventually attract serious landlords back in to the market.
“I believe a ‘rental income’ based approach to property investment will be the way forward – which will encourage or require landlords to enhance and maintain their properties to the highest standards so that they can achieve the higher rentals.”
Jun
18
Citylets Listings on Google maps
Filed Under Uncategorized by thomas | Leave a Comment
Citylets listings now appear on Google Maps UK and early indications are that this is adding only a very small amount of audience to our Network reach. Will this change over time? As with all sites we distribute listings to, we’ll be monitoring their performance.
A lot of companies are claiming to have ‘partnered with’ or ’signed up’ to google which in our view overstates the relationship. Getting listings on googlemaps is via googlebase which simply takes a data feed.
As there is no direct relationship with Google there is no accountability or recourse to concerns. As such Citylets Network cannot consider them a primary partner in the way we do sites such as findaproperty or s1homes with whom there is a real and direct relationship and assurance that our customer listings will be shown. If we can’t guarantee our customers full exposure for all properties, our customers cannot pass this onto landlords so in addition to performance merit we advocate caution in the use of the google name for now and leave hype and spin to others.
Jun
15
Scotland host England at Citylets Grange
Filed Under Cricket by thomas | Leave a Comment
Scotland take on England in a One Day International (ODI) on June 19th at Citylets Grange. This is our 7th year sponsoring the national home ground and we’re lookig forward to a good turnout and a good game. We have 2 spare tickets if you’d like to come and join us for the day…..just email info@citylets.co.uk
This is the second ODI between the teams in as many years and sees Scotland, an amateur side, take on the elite of world cricket once again following on from recent games with India, Australia and Pakistan.
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
May
5
Launch of Citylets Report in Belfast
Filed Under Belfast Property News, Market News, Renting news by DanCookson | Leave a Comment
We were delighted with the response we have had from Media, Agents and Landlords to the first issue of our quarterly report into the private rented sector (PRS) in Belfast. Print, Radio and Online Media all covered the story (Irish Times and Belfast Telegraph) it seems our analysis meets a growing need for timely and accurate information on the expanding PRS in Northern Ireland.
Key headlines from the report which was published last week are an annual drop of 6.2% in average monthly rents in the first quarter of this year to £544. However, the average time it takes a landlord to let a property has come down significantly over the year, which suggests the over supply problems seen in some areas might be resolving themselves. For example, one-bed properties are now taking an average of 38 days to let, some 23 days less than a year ago.
Our map guide to the most and least expensive areas in Belfast was particularly popular:
Copies of the Belfast report can be downloaded here: Citylets Rental Report
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