Scotland rental market strong - Emerging Real Estate

Scotland rental market strong

17/12/2011

 Scotland Rental Market Strong

We have recently been offering our clients some fantastic off-market deals in Scotland and we still have a few remaining. Working in Scotland has been extremely encouraging, not least because of the thriving lettings market found north of the border.

Independent property consultant CKD Galbraith recent findings seem to prove that potential property owners are continuing to rent while the economic outlook remains uncertain. Statistics show that during the third quarter of 2011 average rental values were £701 per month and properties were let within 36 days on average.

‘Demand for private rental properties is showing no sign of decline and the choice of accommodation for tenants is increasing as more rental properties come on to the market. These rental levels are area specific due to regional market conditions but demonstrate an excellent return on capital investment for landlords,’ said Shirley Kenyon, head of CKD Galbraith’s lettings department.

‘There is no doubt that the swell in popularity of rented accommodation is caused by the continuing difficulties that would be homeowners are facing in financing their first purchase. However, more recently there has been an emergence of a new sector in the lettings market. An increasing number of middle aged owners are taking the decision to sell their family home and rent, particularly in the middle to top end of the property market, whilst they monitor market conditions or alternatively decide to have less responsibilities, more disposable income, and take the positive decision to rent for the remainder of their life,’ she explained.

It is widely believed within the industry that the Scottish lettings market will continue to perform well and robustly throughout 2012 as recent statistics have shown. If you would like to discuss our excellent off-market deals in Scotland and how we will be able to make sure your property is let, then please do not hesitate to get in touch.