Scottish rental market ‘remains on a positive trend’

The annual rate of rental price growth in Scotland hit 2.2% in November, the latest Your Move buy-to-let index shows.

On a seasonally adjusted basis, the average property north of the border let for £572 per calendar month (pcm) – the same level since July 2017.

When looking on a non-seasonally adjusted basis, the average rent was £569pcm in November – flat compared to the corresponding month in 2006.

Four of the five Scottish regions saw rents increase in the year to November, led once again by growth in the Highlands & Islands where prices are 7.3% higher year-on-year, hitting an average of £618pcm, which is up from £613pcm a month earlier.

The Edinburgh & Lothians regions remain the most expensive in Scotland, with the average price standing at £667pcm.

Glasgow & Clyde was again the only region to see a year-on-year price fall, with average rents in October hitting £540pcm, which is down 6.5% year-on-year.

According to Your Move, landlords in Scotland achieved a 4.8% yield on average on their properties, which is the same level as September and October.

Brian Moran, letting director at Your Move Scotland, commented: “While some areas are growing faster than others, the Scottish rental market as a whole remains on a positive trend - with the average rent increasing by 2.2% year-on-year.

“Particularly pleasing is the improvement in tenant finances, as fewer people are finding themselves in financial difficulty than last month.

“This shows that despite year-on-year rent rises, more tenants are able to pay their rent in full and on time.”

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.