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Renters are returning to city living in Scotland

Demand for Scotland’s urban rental properties overtook rural areas, driving rents significantly higher over the first quarter of 2022, according to lettings portal Citylets. 

The company’s most recent report for Q1 2022 suggests the return of people to office based working and the diminishing fear of lockdown has bolstered city living, putting upward pressure on rents.

Sizeable rent rises were recorded across Scotland’s major cities as the imbalance of demand over supply continued, in both the city and rural areas. However, the overall supply of available flats and houses improved moderately over the period compared to the historic lows of the last quarter of 2021.

Larger properties continued to post stronger year-on-year growth across Scotland compared to smaller bedroom properties.

Scotland’s average monthly rents increased by 8.5% y-o-y to £896, with the time to let (TTL) at 20 days, down by 18 days from last year. Over a third of the properties were let within a week, according to the report.

Edinburgh’s average monthly rent reached an all-time high of £1,214 (an increase of 14% y-o-y). At the same time, Glasgow’s average rent rose by 16% compared to the same time last year, to stand at £972.

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