Dec
13
House Prices in Scotland holding up better than rest of UK
Filed Under Uncategorized by DanCookson | Leave a Comment
If you read our Citylets Quarterly Rental reports on a regular basis you will know that we also track house prices in Scotland using two of the official sources: The Registers of Scotland and Communities & Local Government (CLG). The most recent figures from CLG for October were published this morning and the index chart below compares growth in house prices for all the Home Nations since February 2002.
The encouraging news for property owners in Scotland is that average values have not deteriorated as dramatically as other Home Nations and are now 115% up on what they were in Feb 2002 (i.e. they have more than doubled in price in that time). However, a note of caution in this good news is that average prices might well be held up because the mix of properties selling has shifted, with more large and expensive family homes selling over recent years and fewer affordable properties changing hands. Recent analysis by ESPC supports this view and shows that the number of 3 & 4 bedroom homes selling is now a larger proportion of the total sales than it was pre credit crunch. The significance of the change in the mix of properties selling on the average price in Scotland has yet to be determined.
Northern Ireland have experienced a roller-coaster of a housing market during the last 10 years with an unsustainable explosion in prices from Feb 2006 to the high in Aug 2007. Since then prices have come back with a bump and are now at the level they were 6 years ago. This is obviously good news for those looking to buy now but not such a fillip for those that bought at the top of the market.
As ever with indices, so much of the interpretation can depend on the period you chose to start the index. Its fair to say that the market in England was appreciating rapidly well before 2002, but comparable figures going back to the 1990s are not readily available for all the countries of the UK.
home nations house prices small
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.
Sep
1
Record Traffic for Citylets.co.uk
Filed Under Citylets.co.uk News, Did you Know...? by thomas | Leave a Comment
August is traditionally our busiest month of the year and this year was no exception with visitor traffic to citylets.co.uk at a record high- three times that of Aug 2007 & maintaining the growth trend set in Q1 of this year. Traffic was up 21.4 % on March 2011 when the previous monthly record was set and up 24.3% on August of last year (source: Google Analytics).
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