Demand Soars in the Inverness Lettings Market
The Inverness lettings market is experiencing a surge in demand for high quality rental homes. Our Inverness office has reported securing tenancies for certain properties within 24 hours of them appearing on the market and receiving over 70 separate enquiries for others.
Flora Badger, head of lettings across the Highlands for CKD Galbraith, said:
The lettings market has been very buoyant since the start of the year and in particular we have noticed a steep increase in demand from tenants looking for larger properties.
Both young professionals and families are seeking country properties to rent, ideally traditional farm cottages with a bit of land. With mortgages still unattainable for many, renting continues to be a way of life for people in their 20s, 30s and even 40s. Therefore, tenants aren’t looking for temporary accommodation but somewhere homely where they can settle for longer periods of time.
Generally, once tenants have found the right property they are extremely quick to act, demonstrating an understanding that competition for high quality lets in the region is extremely high.
CKD Galbraith has doubled the number of tenancies agreed in Inverness over the first quarter of the year compared to the same quarter of 2015. The lets ranged from two bedroom fully furnished apartments, still popular with young professionals, to five bedroom rural farmhouses suitable for families who want space and a generous garden. Furthermore, the firm had carried out eight rent appraisals by the end of January alone and secured six new instructions.
Tenants need to be proactive and decisive when it comes to securing lets with properties such as Pinetrees House in Nairnside snapped up before even being advertised. In addition, Chapleton Farmhouse in Balloch (£750 pcm) was let out at the start of the year having received over 70 enquiries and being let within eight days of appearing on the Inverness market through CKD Galbraith.
Currently new to the rental market through CKD Galbraith’s Inverness office is Dunachton House, an impressive and spacious seven bedroom townhouse located in popular Grantown-on-Spey. The property has an office space allowing for flexible working arrangement if required and can be let part furnished. Dunachton is available to let for £1,400 per month.
Also just on the market on the Black Isle is Fettes Farmhouse in Killearnan. A large five bedroom farmhouse set in a spectacular location with views down to the Beauly Firth. The property includes large enclosed gardens and is surrounded by farmland, with the landlord being open to negotiating a let to tenants with pets. Fettes is available to let for £895 per month.
Both properties are certain to attract a high level of prospective tenant interest.
CKD Galbraith’s Inverness office is currently offering landlords a free rent appraisal on their property along with a very competitive rental management package tailored explicitly to suit each individual landlord’s needs.