Apr
25
Citylets Property Report
Filed Under Citylets Rental Reports | Leave a Comment
As we thought might be the case activity in the residential lettings market remained high throughout the first quarter of the year. The latest quarterly report ‘Lease is more’ shows there was strong tenant demand with, after allowing for Citylets growth, more properties being let than we would expect in what is typically a fairly quiet time of year.
There were 20% more searches for one and two bed flats in Edinburgh, which let faster and for more, than in Q1 2007. Year-on-year rental growth has risen again with rents up on average 5.8% (1 bed) and 6.3% (2 bed). It’s the same story over on the West coast in Glasgow though rents for two bed properties haven’t appreciated on last year.
Surprisingly, considering how fast they were letting in Q4 2007, rental values for 1 bed flats in Aberdeen have fallen on the last quarter (to average £550) but, they still post 10.9% increase on Q1’07. It’s possibly a sign of pressure for rental property easing in Aberdeen after two years of non-stop growth but it’s a bit early to tell on one quarter’s figures. Read the full report here
Apr
25
We like this
Filed Under Uncategorized | Leave a Comment
We wouldn’t normally promote a piece of software but one of our technical consultants has written a plugin for MS Word called Trayselector which we find very useful, so you might too. It’s meant no more messing around with paper/trays when we want to print a document from Word with the 1st page on headed paper and the rest on plain paper. Just set up your print profiles with Trayselector and away you go. It works with all printers (including duplex) and has a 30 day free trial so tray (sic) it for yourself – www.trayselector.com
Mar
25
New! Text entry search box
Filed Under Citylets News | Leave a Comment
We’ve added a text entry search box with autosuggestion and autofill. You can use it to search for properties using a postcode, local area name, town, city, council areas or Citylets reference number.
As you type suggestions will display, narrowing down the possibilities as each additional letter is typed. So, if you are looking for flats to rent in Bruntsfield, typing in B r u will narrow the possibilities to Bruntsfield and will autofill the text box. Alternatively, if you know the postcode of the area you’d like to rent a property, type the first part eg G12 (the autosuggestion will switch off when a number is typed), narrow your search criteria using the other fields eg 2 bed, flat, £500-900, or just hit return to return all properties to rent in G12.
If all you know is you’d like to rent in eg the south of Glasgow then typing Glas will suggest a number of Glasgow options - use your mouse or keyboard arrows to select Glasgow, South. Similarly using your mouse or keyboard arrows is quickest on those occasions where there are multiple place or area names. For example, there’s a ‘West End’ in Edinburgh, Glasgow, Aberdeen and Dundee.
Of course you can still search by city eg Aberdeen, Belfast or town name, Stirling, Ayr, and also council areas such as Renfrewshire or Ayrshire North. Finally, if you have a Citylets reference number eg LG69420 from The Citylets Lettings Guide, typing the number will return the schedule for the property providing it is still available.
We hope you like the text entry search box and find it easy to use. Let us know if you have any suggestions or comments.
Feb
19
Citylets Property Reports
Filed Under Citylets Rental Reports | Leave a Comment
2007 was a good year for landlords in Aberdeen with high capital growth and strong rental growth. In the latter, the latest Citylets latest rental market report, ‘The Winter’s Tale’, shows that demand for one bed flats to rent in Aberdeen remained very high pushing rents 6% higher on the previous quarter to now average £561 per month – 19% higher than last year. The consistently high demand and seeming low supply meant voids have been rare and one bed flats have typically taken just 12 days to let throughout the second half of 2007.
In general, returns in Edinburgh and Glasgow haven’t been as strong but in both cities there are signs that rents are rising faster than they have been for some time. Demand for rental property started to rise midway through the last quarter of 2007 and has risen further in 2008. Letting agents report a brisk start to the year and traffic to Citylets is considerably higher than the same period last year. As well as the usual guide to rents the full report has a regional focus on Renfrewshire and Lanarkshire.
Jan
31
Crunch Times in Letting
Filed Under Citylets News | Leave a Comment
The current credit crunch in the UK may mean a slowdown for many parts of the economy but the residential letting sector in Scotland is flying at the start of 2008. Citylets has recorded its busiest January to date with the volume of searches launched for property to let in Edinburgh and Glasgow increasing 24.7% and 19.4% respectively on last year.
While there is talk of economic adversity, people will be wary of buying homes. Others simply will not be granted their mortgage. This will drive more people to rent and for longer and we expect the demand for properties will continue to soar well into Q3 of 2008. This is good news for private landlords and their agents but tenants should expect to see rent rises in some areas.
Managing Director Thomas Ashdown commented:
“It only stands to reason that we are seeing an increase in demand in the letting sector, something we have been expecting over the last 6 months, but the size and speed of the increase is of interest. Most noticeably demand for 2 bed property in edinburgh has shot up by over 30%.
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