East Lothian: Demand v Supply
Since March of this year, we have witnessed unprecedented demand for East Lothian properties. To the extent that people were willing to take properties unseen due to the desperate nature of their circumstances. This still seems to be case with properties being advertised receiving 40 or so enquiries within the first 48 hours of going to market.
The demand doesn't seem to be ebbing, with one of the main reasons being the process of buying a new build home pushing families, couples and individuals into a rental limbo.
This in turn has come about due to the demand for new build homes, meaning that development companies can dictate that only purchasers with homes under offer can reserve a plot. With many homes taking a number of months to be built (and quite often delayed for one reason or anther), it often means that new build purchasers have to find alternative accommodation until their new home is ready.
This on top of the pandemic which saw a marked increase in people moving back to East Lothian to be closer to family or out of cities has put a massive demand on the rental market.
Only time will tell as to when this wave of demand will ebb away or whether the property crash which some property experts are predicting will come. We certainly don't hope for the latter and that all demands can be met in the meantime.
If you have a property that you are looking to rent out and are looking for a small personable agent to look after it, contact Susan on 07921256066 or at email@example.com.