Scottish rents at a standstill for Christmas
- Average Scottish rents stall at £546 per month in November, growing just 0.1% on a monthly basis
- Fifth consecutive slowdown in annual rent rises, with Scottish rents now only 1.4% higher year-on-year
- But rents in Edinburgh & the Lothians climb to new peak of £635 after 0.8% monthly rise in November
- Landlord total annual returns climb to 6.0% across Scotland – and reach 9.8% in Glasgow & Clyde
- First fall in tenant arrears for six months, as late rent payments drop to 12.1% before festive season
Scottish rents have almost ground to a halt in the run up to Christmas, 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 just 0.1% higher than the previous month – a 35p increase since October, meaning that Scottish tenants are still paying on average £546 per month in November. The rate of growth has dipped from a 0.2% uplift between September and October.
On an annual basis, the pace of rent rises in Scotland is continuing to decline. November marks the fifth successive month where annual rent growth has slowed. With Scottish rents now just 1.4% higher than a year ago, the pace of annual rent rises has more than halved since the June peak – when rents were up 3.1% year-on-year. Average Scottish rents are now £3 below their summer 2015 peak.