Glasgow letting agents 'struggling to keep up with demand'
News Category: Industry News
Published: 08-Jul-2008
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Glasgow letting agents are struggling to find property to rent out in the face of strong demand for rental accommodation, it has been claimed.
According to Peter Grant, managing director of property management firm Grant Management, Glasgow residential rental market is enjoying 100 per cent occupancy.
However, this has left a situation where demand is outstripping supply with agents having to scour the city for available rental accommodation, he added.
Mr Grant told the Evening Times: "Since January our business has been experiencing 100 per cent occupancy to the extent our biggest headache is now finding property, not letting it out.
"You can see it in the newspapers or in adverts - management companies are actively looking for more homes to let."
It is thought that much like the rest of the UK, demand for property to rent has been driven by uncertainty inthe mortgage market, which is leading potential buyers to delay their purchase and rent a home in the meantime.
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