Scottish rental market hots up

Scots tenants have been hit by soaring demand and lack of property, resulting in prices climbing to record levels. A report by property letting portal, Citylets, says the average monthly rent across the country rose 5.2% to £869 over the last quarter of 2021. During the same period properties were snapped up at record speeds, with 40% let within one week and 83% taking less than a month to let. Citylets said the number of available properties advertised is down by two-thirds compared to the same period three years ago. The pattern was reported across one, two, three and four-bedroom rental homes, with all seeing "significant rises" in the average monthly rent. With high demand, the average Time to Let (TTL) was just 16 to 19 days across all sizes of rental homes.

Daily Express (Scot)