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TODAY'S OTHER NEWS

The Scottish rental market is ‘a great place to invest’

Rental price growth north of the border continued to outstrip the rest of the UK with an annual rise of 1.7% in the year to December, although prices did dip by 0.2% month-on-month, Your Move report.

The company’s buy-to-let index reveals that the average rent (seasonally adjusted) north of the border stood at £571 per calendar month (pcm) at the end of the year.

Four of the five Scottish regions saw rents increase in the year to December, led by growth in the Highlands & Islands where prices are 7.1% higher year-on-year, hitting an average of £623pcm.

Average rents also increased in the past year in the East, Edinburgh & Lothians, Highlands & Islands and South regions.

Glasgow & Clyde was yet again the only region to see a year-on-year price decline, with average rents in December reaching £548pcm, which is down 4.2% year-on-year.

According to Your Move, the average yield has remained at 4.8% since September, but this is slightly lower than the 4.9% at the corresponding point last year.

Brian Moran, letting director at Your Move Scotland, commented: “2017 demonstrated why the Scottish rental market appears to be a great place to invest. With a typical return of 4.8% a year, Scottish property offers more than the average returns of 4.4% in England & Wales.”

“While its currently positive news, landlords need to be aware of changes to legislation which could will affect them in the future.”

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