Citylets Q2 report

“What Lies Ahead” is the ominous report title from Citylets, setting the scene for a deep-dive into city by city rental market overviews. With the levels of rent soaring, and average stock dwindling after recent legislation exacerbated the supply and demand imbalance.

This year has thrown unprecedented challenges at both landlords and tenants, and unfortunately, we don’t anticpate these easing in Q3 and beyond. Landlords may find a degree of respite through the security of an agency, especially if they can offer streamlined services such as Tenant Find, ensuring compliance and legal best practices.

Scott Morrison’s Perspective – Q2 Trends and Rental Market Prospects

Scott Morrison, our Aberdeen Branch Manager, is featured (page 15) commenting,

“Q2 has seen the start of usual trend of move outs for summer, particularly student tenancies, and this is leading more landlords to now consider their options with the current financial climate and look at selling up and leaving the PRS altogether with further legislation changes (and costs) looming in 2025 for EPCs too. Rental prices continue to increase due to the continued lack of supply and increased demand has been demonstrated with some properties being let quickly, which will be welcome news to landlords investing longer term. We anticipate a busy summer equal to last year into Q3, with the real challenge being how to accommodate everyone.”

Read the full report here.