Scotland’s tenants move back into the black
- Six-month low for late rent, with only 11.1% of January rent falling in arrears – lowest since July 2015
- Scotland’s average rent rises stand at 2.3% over past year, while January’s £548 the same as December
- Average rent rises distorted upwards by some exceptional regions, up 6.4% in Edinburgh & Lothians
- Rents in East of Scotland in fact 1.7% lower than a year ago – while Glasgow’s tenants pay 0.2% less
- Slower house price growth is hampering landlords’ returns, falling to 5.8% in the year to January
Scottish tenants are paying off late rent, amid improving household finances, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.
As of January the proportion of late rent has fallen to represent 11.1% of all rent due in the month.
This is an improvement on 11.4% seen in December – and represents the lowest level of late rent in Scotland seen since July 2015.
Previously, arrears surged over the autumn to reach a record high of 13.8% in October 2015, before beginning to improve. Tenant’s finances remain in worse shape than twelve months ago, when in January 2015 as little as 7.1% of all rent due was late.
However the change in direction is now clear – in the third consecutive month-on-month drop in Scottish tenant arrears.