- Positive start to 2017 for Scottish rental market
- Average property in Scotland now lets for £571 per month
- East of Scotland including Fife, Dundee and Perthshire remains cheapest place to rent
- Yield levels remain relatively consistent
- Edinburgh and the Lothians see the strongest growth in the last 12 months
In its latest Scottish Buy to let Index Your Move has reported that the Edinburgh and Lothians region dominated the Scottish rental scene once again in January 2017 with prices in the capital and surrounding areas growing faster than any other part of the country in the last year. Prices in this region increased by 3.3% in the last 12 months to reach £648 - although they were flat month-on-month.
The Highlands and Islands region also reported high rents (an average of £584) yet these were 4.3% lower than a year ago – the biggest faller during that period. The only other region to post a year-on-year fall was Glasgow and Clyde where prices have ticked down 0.9% since January 2016 to an average £566.
Across the whole of Scotland the average rent stood at £571 in January 2017, this compares to £573 last month and £548 a year ago.
Brian Moran, Lettings Director in Your Move commented:
“It was a strong start to the new year for many landlords across Scotland as rents continued to perform well. Edinburgh and Lothians is the best performing region with prices growing faster than anywhere else in Scotland and despite new government rules which cut tax relief on buy-to-let properties, yield levels have remained strong in the past 12 months.”