FEELING THE SQUEEZE
The latest of our lettings bulletins has been released. The findings have come from our carefully researched data courtesy of the Rettie & Co. Research Team, Scotland’s largest dedicated property research department.
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- A lack of housing supply is limiting people’s choices and creating acute affordability pressures in parts of the market, with tenants on Local Housing Allowance no longer able to afford rental properties in the lower 30% of the market in Edinburgh and Glasgow without supplementing the rent themselves.
- PRS supply has been expanding to meet demand from other tenures but this is also now under pressure due to legislative changes and supply looks likely to drop here too, with lending nearly 9% down in the last year.
- While average rents now seem to be stabilising in many parts of the country, the demand/supply imbalance is continuing to drive the Edinburgh market, with the average rent for a 2-bed property up 3% in the last year.