Rents rise sharply in Scotland as buyers postpone purchasing
The cost of renting in Scotland has increased dramatically in the last two years as buyers eager to get on the housing ladder delay taking the plunge on property.
Access to finance has remained restricted for some time and with people unable to purchase, the rental market is being flooded pushing rents up.
And figures released today by Citylets show that a two-bed flat in Scotland's most expensive area has seen rent costs rise more than ten per cent in just on year.
In the second quarter of this year Citylets saw record number of rental transactions and the average rent in Scotland reached £663 - the highest level since the third quarter of 2008 – up 1.4 per cent on last year.
The data also showed that one bed properties remained the quickest to let at 35 days while two bed properties took 38 days and three beds 40 days.
Larger four bed properties took 42 days to rent suggesting those looking for flats in the capital made use of Edinburgh storage space while between properties.
Posted on Monday, 05 September 2011 under Edinburgh Storage Self Storage
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Rents rise sharply in Scotland as buyers postpone purchasing
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