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Rent cap and eviction ban fail to stifle high tenant demand

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.”

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“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.”

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    Attractive to tenants maybe, but surely not to landlords other than for students and short term lets?

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    Exactly!

     
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    With the current SNP/Green policies, Useless as First Minister why would anyone want to invest. Even large corporates in recent research, the majority were negative in relation to any investment. Rents are on an upward curve re landlords selling up as they feel what next from the government.

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    I think tenant demand is high right across GB

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    It’s failed to stop the demand because it’s part of the cause 😳😳 landlords have sold up because of it so less properties are available !! This is not difficult 😱😱 I think this lot would have difficulty with how a radio works 🫤🫤

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    I agree.

    The headline is stupid. Why would the opportunity to get a free property that you can't be evicted from be unpopular with any prospective tenants, other than those who would definitely pay the rent and cooperate with the Landlord, who are now crowded out by potential rent dodgers?


    Incidentally when I was very young and we had a radio about 1 cubic foot in volume and weighing a ton, I thought it had tiny people in it who made the programmes.

    When we got our first tranny (is that word allowed nowadays?) I was amazed that the people had been made even smaller.

    BTW How does a radio work anyway?

     
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    The private landlord is really the acid test of a country’s level of freedom and the UK is failing miserably. Foreign investors must be mad to invest here, with these civil service vultures and control-freak politicians feeling that they should somehow be deciding how private landlords should run their hard-earned assets in free markets. Every year they come up with more ill-thought-out ideas to hammer private landlord owners and feel it’s their duty to dictate. This is the socialist republic of Great Britain today where the ignorant rule the intelligent and jokers like the SNP absolutely wreck this island with their talk of division dreaming of an even greater socialist utopia away from the rest of the country.

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    Scottish Rents Continue to Rise , As Supplies Dwindle to all time low. (Herald 12/10/22) Hardly a success for anyone Landlords forced to sell up , and Tenants forced to Pay More.

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