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December 2015 - Scotland Buy to Let Index

January 27, 2016Tags: buy-to-let | Scotland | letting | lettings | Landlords | buying

End of year surge in Scottish rents

  • Strongest monthly rent rise in Scotland since June, jumping 0.4% in December to £548 per month
  • Average Scottish rents increased 2.2% over the course of 2015, and annual growth accelerating
  • Rents in Edinburgh & the Lothians hit all-time record high of £640, after 4.8% annual rise in 2015
  • Tenant arrears dropped in December, defying usual Christmas hike, with just 11.9% of all rent late

There has been a last-minute end of year surge in Scottish rent growth, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.

Average residential rents in Scotland jumped 0.4% in December – the highest monthly rent rise seen since June. Representing an uptick from a modest 0.1% rise the previous month, this boost brings the average monthly rent in Scotland to £548, just £1 below the summer peak reached in July.

On an annual basis, rent growth is also starting to accelerate. Year-on-year rent rises had been steadily slowing since June – when they stood at 3.1% - but December marks an upswing in annual growth. Scottish rents are now on average 2.2% (or £12) higher than a year ago, up from 1.4% in the twelve months to November.

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