Scottish rent rises halved in four months
- Annual rent rises in Scotland slow to 1.6% in October, down from 3.1% in June 2015
- But after autumn downturn, October also marks first month-on-month rise in rents since summer
- Rents at record high of £630 in Edinburgh & the Lothians after 1.1% monthly boost in October
- Fifth consecutive monthly rise in late rent payments, with tenant arrears now standing at record 13.8%
- Scottish rents are rising at half their summer speed, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.
The average residential rent in Scotland is now 1.6% higher than a year ago, meaning the typical tenant is paying £9 extra every month than in October 2014. However the rate of rent growth has almost halved since the summer, slowing from a 3.1% annual rise in June 2015.
After peaking at record prices in the summer, Scottish rents have been falling in recent months. But there are signs that growth is starting to rally following this autumnal dip, with residential rents in Scotland climbing a modest 0.2% between September and October 2015. This is the first month-on-month rise in Scottish rents since July, and takes the average monthly rent in Scotland to £546, £1 higher than the previous month in cash terms.