Property to rent in Dundee is more popular than ever.
Dundee (PRWEB UK) 14 November 2012
The rental industry in Dundee has, as with the rest of Scotland, been picking up the slack of the housing crisis for some years now. Whilst this has been a boom for landlords, tenants have had to deal with faster lets, increased rents and more competition.
The autumn has usually provided a respite for lettings in Scotland, and a chance for landlords and agents to settle down after the busy summer period. This year, however, that has failed to materialise, as rent prices and demand rises across the country.
According to Lettingweb data, Dundee has been no exception:
- September and October were the joint second most expensive months for renting 1-bed flats, after June alone.
- Rents on 2 bedroom flats were more expensive in October than in any other month this year, with time to let lowest.
- 3 bedroom properties averaged out £679 for the year so far, but £685 for October.
- 4 bedroom property prices have dropped considerably since the busy summer, partly because of the lack of student interest. They are still failing to drop below the 2012 average in October, however.
Of course, this indicates a trend that any potential tenants should be wary of – anyone considering leaving current accommodation soon should try to make sure that they have somewhere lined up.
Whether it is caused by the recent decision made by the Scottish government to ban tenancy fees remains to be seen – but Lettingweb only advertise property through registered letting agents so any changes to rents will reflect that.
Patrick Foot, Lettingweb’s Product Manager, had this to say:
‘Renting in Dundee is a booming industry, and flats to rent in Dundee are more popular than ever. Whether the fluctuation in rent prices is correlated to the recent banning of all tenant fees is a question that we do not yet have the ability to answer. What is certain, however, is that it has done nothing to harm demand for lettings’.