Capital rents cheaper than in Glasgow

RENTING flats in Edinburgh is cheaper than in Glasgow, according to a new rental price monitor.

The average monthly cost of privately renting a flat in Edinburgh was 776 a month, while the cost in Glasgow was 777.

One-bed flats in Edinburgh, at 559, are more expensive than Glasgow, at 509. However, the average rent of a two-bed flat in the Capital is 735 – 48 cheaper than in Glasgow.

The figures, based on 429 lettings in the first three months of this year, were contained in the new rental monitor by letting agency DJ Alexander.

David Alexander, the firm's sole proprietor, said: "Hopefully, the housing market will eventually revive and prosper but we are thinking in terms of several years.

"Although owner-occupation will continue to be the most popular form of tenure in Scotland and the wider UK, I believe the effects of the banking and lending crisis will lead, indirectly, to a new and sustained market in long-term, non-social renting for a significant minority of the population."