GLASGOW'S rented homes market is booming because of the credit crunch.
GLASGOW'S rented homes market is booming because of the credit crunch.
The financial squeeze has spawned a new breed of "reluctant" landlords - people renting their homes because they can't find a buyer.
But their disappointment at being unable to sell is being offset by rising rents for flats across the city.
Rents are rising with increased demand for properties to let.
Experts say it's because many people can't get a mortgage or are reluctant to buy.
Citylets, the online letting company, says rents for one-bedroom flats have risen by 5.9% in a year, and by 3% for two-bedroom flats.
Managing director Thomas Ashdown said: "The collapse in confidence in the property buying market has seen an enormous swathe of potential home owners divert into rentals.
"Young people and professionals aren't buying property."
