Keep an eye on rentals

05/05/2010

The Monitor comes in response to the growth of privately rented housing, largely as a result of the mortgage famine.
The first Monitor has shown the average monthly cost of renting a flat in Edinburgh is £776, based on new rental agreements during the first quarter of the year.
In Glasgow, the average cost of a rented flat is £77 per month. A one-bedroom flat costs £509, rising to £783 for two bedrooms. Larger flats are averaging £1104.
The results are based on 429 lettings by the company from January 4 to March 31.
David Alexander, proprietor of the company, said: “Although owner-occupation will continue to be the most popular form of tenure, I believe that the lending crisis will lead to a sustained market in long-term, non-social renting.”
Picture caption: Homely touch – typical of the variety of property for rent are these apartments in Wester Coates, Edinburgh.

THE HERALD, 5 May 2010