Rents still being pushed higher, surveryor says

I was interested to read a recent report from the Royal Institution of Chartered Surveyors confirming that private rents continue to be driven higher.  The RICS have recently released a report which has confirmed that demand from tenants, many of whom have had their home buying ambitions thwarted, is continuing to outstrip the supply of homes to rent.  This is certainly a trend we are noticing in Scotland in general and Dundee in particular.  Feedback from my many property management and property investment clients is that rents continue to rise and there is no shortage of tenant demand, with one comment being “I could let my properties five times over”.  On the plus side, this shows that property investment is back to its purest form (using rents for income or to cover mortgage interest and costs with capital growth expectations being a bonus) and continues to be a very good solid investment for clients who get the appropriate advice.  As I have mentioned in previous blogs there is a downside to the economy and to society as a whole if ultimately the Government takes no steps to control this rental bubble and to assist first time buyers getting on the market.

Lindsay Darroch
Head of Property

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