Fife Lettings Market Still Thriving
The lettings market is Fife remains strong according as many would-be property owners are still choosing to rent during the uncertain economic climate.
Our Cupar office new tenancies has remained the same compared to this time last year.
Our statistics show that the average rent in the area has dropped 1% to £791pcm, due to the Cupar office building their portfolio of property over the last 2 years and a rise in 1 bed properties to let in the first quarter of 2012. This remains higher than average rental value that the Scottish national average of £664 pcm reported by Citylets and higher than CKD Galbraith’s national average rent of £709pcm.
CKD Galbraith’s average Time To Let in Fife is 22 days, 22 days less than the Scottish average of 44 days (Citylets).
Currently there are 14 available properties being let out through CKD Galbraith’s Cupar office with approximately 200 parties registered and activity seeking appropriate properties to rent.
Amy McMenemy, lettings manager at CKD Galbraith’s Cupar office, said:
“There is no doubt that the popularity of rented accommodation is caused by the continuing difficulties that would-be homeowners are facing in financing their first purchase. In general terms, we have seen a shift in the dynamics over the last few years. The rental market is not just the choice of the young and old – the groups who traditionally tend to rent. We are now witnessing more families and full time workers renting.
“In Fife we are generally finding that good tenants can be secured for property large and small, with particular interest in well presented quaint country cottages.
“We have also noticed a trend of landlords moving towards a managed service as legislation tightens in this sector of the market with the launch of the Tenancy Deposit Scheme this month.”
Some of the recent properties available to rent through the firm in the Cupar area include:
Goatsmilk Farmhouse Glenrothes Fife – A freshly presented, newly renovated farmhouse situated well for the commuter with 3 reception rooms and five bedrooms - £1200 pcm.
Bow Butts Lodge Kinghorn Fife – A beautifully presented lodge house situated within a private walled garden in Kinghorn with one reception room and two bedrooms - £550 pcm.
Find out more about renting a property through our Cupar office.