The cost of renting a home in Scotland will continue to rise as property sales slump and the supply of rental accommodation shrinks, a report out today warns.
The average monthly rent in Scotland was 2.2 per cent higher in the final quarter of last year than in the same period in 2009, despite a drop-off compared with the previous three months, the latest Citylets figures show.
And with Scottish house prices still falling, rents are likely to continue going in the opposite direction, said the property listings website.
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NetRent Comment
Although the Citylets report is specific to Scotland it is likely that similar trends will be repeated throughout England and Wales.Until and unless banks and building societies start lending again the situation is only going to get worse.