Frustrated first-time buyers driving up Dundee rents
Problems facing first time buyers are continuing to push up rents in the private sector in Dundee, according to latest figures.
- By Maura Bowman
- Published in the Courier : 27.05.11
- Published online : 27.05.11 @ 12.56pm
A survey by the Citylets Network shows that the average monthly rent on a two-bedroom flat in Dundee was £570 in the first three months of this year, up 2% on the same period in 2010.
Increasing demand for rental properties is a feature across the UK, with a recent survey by letting agency network LSL Property Services showing rents paid in England and Wales reached a record high last month.
The pressure on rented accommodation is not expected to let up while first time buyers have to wait to save substantial deposits before being able to move onto the property ladder.
"This accords with the reports I am getting from the Scottish rental market in general and Dundee and surrounding area in particular," said Lindsay Darroch, head of property at Tayside solicitor Blackadders.
"With first time buyers still not being able to get on the property ladder but still requiring to move or set up on their own there is an increasing tenant demand for properties."
Image used under Creative Commons licence courtesy of Flickr user woodleywonderworks.
07.32pm - 27.05.2011 Craig - Edinburgh, UK Report This
Well get ready to see this as the norm folks. With low interest rates and the requirement for a large deposit, the majority of properties suited for FTBs will be snapped up by the BTL brigade. We are being forced into a society where wealth is transferred from the working classes to the wealthy.
01.36am - 29.05.2011 Gerry - Dundee, Scotland, UK Report This
Why aren't the SNP administration locally and nationally acting to fix this? They tell us they'd give FTB £2 to help them get on e ladder, they say they'll build thousands of affordable houses to help other parts of the Market. Yet the problem persists, years after they got in. Less hot air, plz.
03.01pm - 31.05.2011 Ladders up - behind us, since the 90s Report This
BTL has destroyed the notion that we move on to better homes than our parents had. Doing slightly better every time with each generation is the sole reason the working class buys into hard work for financial gain. What happens when everyone realises buy to let has robbed them of any future?
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