MenuSearch

Scotland’s rental market remains buoyant over summer months

October 17, 2016Tags: buy-to-let | Landlords | Scotland | Scottish Property
  • Average rent in Scotland rises by 4.6% in the past year
  • Typical Scottish property now let for £574 per calendar month
  • Rental market remains strong despite post-Brexit uncertainty
  • Landlords enjoy typical yields of 5.8% in Scotland

Properties in Scotland attracted an average rent of £574 in the month of July, Your Move found, significantly higher than a year ago. In July 2015 Scottish rental properties typically were worth £549 per month, meaning rents have increased by 4.6% in the last year. This yearly increase is particularly strong when compared with the 2.8% figure recorded in July 2015. This buoyancy suggests that UK’s decision to leave the European Union has had no negative effect on rents.

Brian Moran, Lettings Director, Your Move Scotland comments:

“Rents increased by 5.2% in the last year, suggesting the recent slowdown in rent rises may have come to an end.”

“The UK’s vote to leave the European Union has not caused any immediate change in the rental market, although we must wait for longer term trends to develop.”

“For landlords, market sentiment remains positive with the vast majority still looking to add to their portfolio of properties, despite the Brexit vote.”

“The South East was home to the biggest leap in rents, with many Londoners moving further afield in an attempt to escape high rents in the capital.”

FIND OUT MORE >

Source: Your Move Scotland Buy to Let Index, July 2016