What began as a resurgence of tenant demand late in Q2 2021 quickly evolved into what many letting agents in Scotland have described as simply the strongest and most sustained period of lettings activity on record. Stock levels in Scotland plummeted a full 65% over the quarter.
Commentating on the latest report, Gillian Semmler, communications manager at Citylets, said: “The ramifications of the health pandemic, amongst many other things, have now seen nothing short of a demandemic in the Scottish rental sector. Stock levels have declined dramatically in a very short space of time as stock levels struggle to keep up with unrelenting demand from tenants in all walks of life. Getting a residential property to rent in many areas of Scotland has pivoted abruptly from abundant choice to slim pickings.”
Q3 2021 will likely be remembered as a unique period where demand for property to rent was simultaneously high in all regions covered by the Citylets report. Major cities, satellite towns and rural locations all posted positive annual growth of up to more than 10%.
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