Today:• Brief summary of independent research Cityletscommissioned on PRS• Key Findings from our Quarterly Reports• Brief ...
Independent Research commissioned by Citylets in 2011(George Street Research Base 1003 PRS tenants in Scotland)How well ha...
Size of Private and Social Rented Sectors         PRS v Council (LA) v HAsPRS = HA = LA   PRS = HA + LA   PRS > 2 x (HA + ...
Market keeps management costs down• Based on management fee of 10% of rent - Letting  Agents are charging on average £806 ...
Citylets Quarterly Report• Bumper Issue 23 is just out• Derived entirely from data entered by agents and  landlords• Empir...
Our analysis is making the news..
Trends in Average Monthly Rent                £672 is indeed a new high
Trends in Volumes of Lettings on Citylets                               UP
Trends in Scottish House Prices and Volumes                                PRICES FLAT                               VOLUM...
Trends in House Prices and VolumesAverage Price for flats fell 4.3% in Q3 2012while overall average house price fell 2.3%(...
Trends in Urban House Prices
Trends in House Prices and Rents                              FLAT                            UP
CPI and House Prices UP 24%             Mind the Gap              Rent UP 14%
FTSE up by just 3.9% since Jan 2006
Trends in TTL                TTL FLAT
Trends in Aberdeen Rental Market                           TTL down
Trends in Edinburgh Rental Market
Edinburgh Rental Map
Glasgow Rental Map
OptiLet          Something          Gumtree doesn’t          offer!!
OptiLet gives you the tools to be the        expert on the market• Optilet designed to assist landlords and agents  set th...
http://www.citylets.co.uk/admin2/compare.aspx
Growth in advertised properties
Growth in site traffic          •Visitor traffic now double 2009          figures & treble 2007 figures          (source: ...
Growth and Brand Development              According to Global competitive               intelligence agency, Experian     ...
Growth and Brand Development               •STV reaches 93% of the              Scottish adult population              •Ar...
Share of visitors to Scottish lettings sites          Citylets: Market leader in Scotland                                 ...
•‘Citylets’ is the No 1 search phrase•‘Citylets’ used more often than any generic phrase such as ‘flats                   ...
•Citylets recording almost 3 times more brand searches than                  nearest direct competitor
2012 has been a very ‘exciting’ year forCitylets and the sector.We look forward to helping you make 2013even more successf...
Citylets Presentation at National Landlord Day
Citylets Presentation at National Landlord Day
Citylets Presentation at National Landlord Day
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Citylets Presentation at National Landlord Day

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Presentation by Dan Cookson, Market Analyst at Citylets, given at National Landlord Day. Summarises state of private rental sector in Scotland with latest trends in rent levels and demand.

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  • PRS has doubled in scale over the last decade and is now comparable with both Housing Association and Council Sectors
  • PRS is highly competitive which is why rents and management fees have been increasing at less than the rate of inflation. Useful to compare costs with social sector.
  • I’m afraid to say our statistics are not quite as dramatic as the headlines would have you believe!
  • And so to the latest report. Average mix adjusted rents reached a new high for Scotland of £672 in the third quarter of 2012, though this represented an increase of just 1.0% on the same period in 2011
  • The 3 rd quarter is invariably the busiest of the year and volumes of properties let via Citylets are up
  • Average house prices across Scotland are flat but these national figures conceal the trends for specific property types and specific locations
  • Note that Average Prices for flats have fallen faster than the overall average house price. This is something we will track in forthcoming reports
  • Edinburgh is the most expensive city re Average House Prices Aberdeen has seen biggest increase over 10 years
  • This chart shows that since 2011 rents have climbed steadily while house prices have remained flat
  • Inflation as measured by Consumer Price Index is growing faster than PRS in Scotland – so in ‘real terms’ rents are not going up.
  • Time to Let is broadly flat
  • Demand is booming as seen by the steadily declining Time to Lets figures Rents for 3 bed properties in Q3 were £1,233, up by 7.5% on the year. 2 bed properties are the most popular and experienced annual rent increases of 2.6% over the year to £833
  • For those that need to know what’s going on now we have Optilet.
  • Our report is based entirely on the properties that are advertised on Citylets and as these volumes have increased we have been able to enhance our report accordingly
  • Growth in visits to the site has been exponential
  • (Our growth and brand development has in part been made possible with our tie up with STV in June) (not a bad partner to have!)
  • (Citylets seems to have caught on as a brand name with the word ‘Citylets’ by far the most popular search term used by people looking for property to rent in Scotland ) (looking at searches made delivering traffic to the Scottish lettings portals, ‘Citylets’ used more often than any generic phrase such as ‘flats to rent in edinburgh’) (Citylets is also recording about 3 times more brand searches than nearest competitors)
  • 2012 has been a very ‘interesting’ year for Citylets and the sector We look forward to helping you make 2013 even more successful. Thank you and as ever if any of you have any specific questions please do come and visit us at our stand
  • Citylets Presentation at National Landlord Day

    1. 1. Today:• Brief summary of independent research Cityletscommissioned on PRS• Key Findings from our Quarterly Reports• Brief summary of Optilet our Web based researchand analysis tool•A review of Citylets growth
    2. 2. Independent Research commissioned by Citylets in 2011(George Street Research Base 1003 PRS tenants in Scotland)How well has your current rental property been managed by yourletting agent / landlord? 79% quite well or very well (Agent managed) 86% quite well or very well (Landlord managed)How fairly do you feel you have been treated as a tenant duringyour tenure there? 88% quite fairly or very fairlyThese figures compare very favourably with equivalent surveys ofsocial housing tenants.
    3. 3. Size of Private and Social Rented Sectors PRS v Council (LA) v HAsPRS = HA = LA PRS = HA + LA PRS > 2 x (HA + LA)
    4. 4. Market keeps management costs down• Based on management fee of 10% of rent - Letting Agents are charging on average £806 per annum per property• Housing Associations management fees are on average £1,024 per annum per property (and HA’s have less than a quarter of PRS new lettings volume to deal with) Source: The Scottish Housing Regulator Registered Social Landlord Annual Performance and Statistical Return 2010-11 and the Accounts Consolidation System 2011
    5. 5. Citylets Quarterly Report• Bumper Issue 23 is just out• Derived entirely from data entered by agents and landlords• Empirical not sentiment based• Continually evolving (e.g. Volume index)• Expanding geographical coverage (e.g. Fife)• Recognised as the definitive source of info. on the PRS and regularly covered in Press
    6. 6. Our analysis is making the news..
    7. 7. Trends in Average Monthly Rent £672 is indeed a new high
    8. 8. Trends in Volumes of Lettings on Citylets UP
    9. 9. Trends in Scottish House Prices and Volumes PRICES FLAT VOLUMES FLAT
    10. 10. Trends in House Prices and VolumesAverage Price for flats fell 4.3% in Q3 2012while overall average house price fell 2.3%(source: Registers of Scotland)
    11. 11. Trends in Urban House Prices
    12. 12. Trends in House Prices and Rents FLAT UP
    13. 13. CPI and House Prices UP 24% Mind the Gap Rent UP 14%
    14. 14. FTSE up by just 3.9% since Jan 2006
    15. 15. Trends in TTL TTL FLAT
    16. 16. Trends in Aberdeen Rental Market TTL down
    17. 17. Trends in Edinburgh Rental Market
    18. 18. Edinburgh Rental Map
    19. 19. Glasgow Rental Map
    20. 20. OptiLet Something Gumtree doesn’t offer!!
    21. 21. OptiLet gives you the tools to be the expert on the market• Optilet designed to assist landlords and agents set the right rent using the most comprehensive analysis of the most recent market data.• Online reporting engine provides similar analysis to our report but at local level.• You are the expert• As of today can be found in the client admin area for agents or landlords• Come for a live demo at the Citylets stand
    22. 22. http://www.citylets.co.uk/admin2/compare.aspx
    23. 23. Growth in advertised properties
    24. 24. Growth in site traffic •Visitor traffic now double 2009 figures & treble 2007 figures (source: Google Analytics) •Growth is accelerating •Over 3 million visitors per year (source: Google Analytics, Nov 11-Oct 12)
    25. 25. Growth and Brand Development According to Global competitive intelligence agency, Experian Hitwise, we are officially the No.1 dedicated residential lettings site operating in the UK by visitor numbers
    26. 26. Growth and Brand Development •STV reaches 93% of the Scottish adult population •Around 1000 TV adverts aired by Citylets in 2012
    27. 27. Share of visitors to Scottish lettings sites Citylets: Market leader in Scotland 44% 36% 37% 36% 29% 19%
    28. 28. •‘Citylets’ is the No 1 search phrase•‘Citylets’ used more often than any generic phrase such as ‘flats to rent in Edinburgh’
    29. 29. •Citylets recording almost 3 times more brand searches than nearest direct competitor
    30. 30. 2012 has been a very ‘exciting’ year forCitylets and the sector.We look forward to helping you make 2013even more successful.Thank you.

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