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.