Rising rents hitting firsttime buyers
First-time buyers are finding it harder to get on the housing ladder in Renfrewshire.
Experts warn spiralling costs mean those in private and social lets are struggling to save for deposits.
It comes as the number of firms buying and rental homes hits a 10year high in the region.
Graeme Brown, director of Shelter Scotland, warns high monthly costs mean tenants are struggling to save for deposits for their own place.
He said: “A perfect storm of austerity, harsh welfare reforms, stagnant wages, job insecurity and the high cost of housing are making it harder for people to make ends meet and plan for the future.
“It’s absolutely vital that people who do find themselves struggling to make ends meet and keep a roof over their heads should seek help sooner rather than later.
“It’s much better to put a plan in place to deal with debt and arrears in the early stages rather than wait for eviction notices and court orders.
“It’s a disgrace that in 21st-century Scotland so many people should have to worry about the basic right of keeping a roof over their heads.”
The Express can reveal 80 companies are working to snap-up and rent out thousands of homes across the district.
The sector has seen growth – with 14 per cent more businesses than at the turn of the decade.
In Paisley, the average monthly rent is £351, while the average salary in Renfrewshire is around £25,000.
Across Scotland, 3,390 companies are recorded as buying and renting property last year – a record high.
Numbers have soared a third from 2,525 since 2010.
Glasgow was home to the highest number of these firms, with 560.
Edinburgh followed, with 450; and Aberdeen was third, with 210.
Na h-Eileanan Siar, Orkney Islands, and Shetland Islands had the fewest, with just 10 each.
Across the UK there were 51,265 companies involved in buying and renting property last year.
That is up from 50,245 in 2017 – also a record high.
Home prices in Renfrewshire have also increased in the last year, up £4,000 on average.
The mean price for a house rose to £123,750 by the end of May, compared with £119,701 in the same month last year.
Property industry analysts say businesses are capitalising on the strength of the rental market.
Daniel Peacock, from property investment firm Property Secrets, said: “Sadly, we have an ever growing financial gap in this country between the rich and the poor.
“While it is easier for those at the top of the ladder to obtain the finance needed to purchase multiple properties, it is more difficult for those at the bottom to even obtain their first.
“House prices have stayed relatively flat over the last 12 months.
“But rent has continued to soar which makes it even more difficult for tenants to save to buy their first home.
“Those able to purchase multiple properties can set going rates for rents.
“And this can be attractive as landlords not only benefit from capital growth but a rental yield that is often superior to their own mortgage costs.
“Should stamp duty be scrapped on houses under £500,000, it is likely to lead to an increase of even more investment property purchases.
“This could lead to even more rising rents ensuring those that own property will benefit from even greater rental yields in the future.”