Rental demand in Scotland remains high according to the first quarterly report by DJ Alexander Ltd and Stonehouse – the two brands owned by Lomond in Scotland.
DJ Alexander Ltd, which has four branches and covers Edinburgh, Glasgow, Aberdeen, and St Andrews is the largest sales and lettings agents in Scotland, had 9,594 properties under management in the latest quarter.
David Alexander, chief executive of DJ Alexander Ltd, explains: “We attract a lot of landlords and investors because of our strong reputation for guiding landlords and investors through the different regulatory and legislative environment in Scotland. The last few years have seen demand continue to exceed supply and the latest quarter is no exception.”
“Indeed, the lettings market remains extremely buoyant, and I believe will continue to do so in the future. Edinburgh, in particular, remains a very strong market with average monthly rents now £1,193; Glasgow averages £1,054 per month; Aberdeen is on £752; while St Andrews rents are £577.”
This market strength comes despite a rent cap and eviction ban imposed by the Scottish Government on the country’s private rental sector.
Alexander continues: “Edinburgh, Glasgow, Aberdeen, and St Andrews all benefit from an enormous student population (an increase in numbers of 25 per cent in the last five years compared to 20% for the rest of the UK) with additional strong demand from visitors to the major university cities for work resulting in a good long-term market with no sign of any slowing in demand in the future.
“It is clear that many parts of Scotland remain attractive to renters and buyers for the quality of life, the prospects for well-paid and interesting work, and the opportunity to easily access the beautiful countryside while living in lively, attractive cities and towns. Given that buyers and renters come not just from all over Scotland and the UK, but also the rest of the world, the Scottish housing market remains a popular and dynamic sector which will continue to thrive in years to come.”
