Scottish rents rise at one-third the speed of England & Wales
- Annual rent growth stagnant at 1.7% in Scotland, while England & Wales rents grow 6.3% year-on-year
- Scottish rents drop on a monthly basis in September, with average rents now 0.8% below summer peak
- In Glasgow & the Clyde rents are actually cheaper than a year ago, with 2.6% annual drop
- Yet tenant arrears have more than doubled in past year, from 6.4% to 13.2% of all rent paid late
Scottish rents are rising at less than a third of the rate seen in the rest of Britain, amidst the controversy of the Private Housing Bill, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.
Average Scottish rents have risen just 1.7% in the past year, less than a third of the rate currently being witnessed in England and Wales. While rents across England and Wales have soared by 6.3% in the past twelve months, annual rent growth in Scotland has plateaued after a summer uplift.
Residential rents in Scotland fell 0.3% from August to September 2015. This is the second consecutive monthly drop in Scottish rents, meaning that the typical rent in Scotland is now 0.8% lower than at its summer peak in July.
The average monthly rent in Scotland now stands at £545 in September 2015, compared to £549 in July 2015. However this is a third (33.3%) cheaper than in England and Wales during September.