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Urban markets fuel 7.9% growth in Scottish rents
Scotland’s urban Private Rented
Sector shows little sign of levelling
off, according to the latest quarterly
report from Citylets, one of
Scotland’s leading lettings sites.
Figures to the end of December 2014
show that national rents have risen 7.9%
in the last year to stand at an average of
£732 per month. This contrasts with just
1% growth in the preceding year.
The Scotland figure is heavily
influenced by strong annual rises in
three of the country’s main cities of
Edinburgh (9.5%), Glasgow (9.4%) and
Aberdeen (8%). Dundee registered a
rise of 3.2% over the year.
The 4th quarter of the year (Oct–Dec)
is usually the quietest time for lettings
activity, where seasonal falls are
common. However this year’s dip in
average national rents barely registered,
at just £4 down from the country’s alltime high of £736 seen in Q3 of 2014.
There is widespread concern that
the private rental market in Scotland
is experiencing severe and chronic
localised shortages in supply. The
oil city of Aberdeen has long been
documented as an area of