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Scottish rents hit record high as LBTT surcharge bites

  • Rents jump 1.3% month-on-month in April – the fastest growth on record, after new LBTT surcharge
  • Across Scotland the average rent now stands at £549, with rents rising in all of Scotland’s regions
  • Edinburgh & the Lothians see biggest uplift on any region, with rents up 12% (£69) year-on-year
  • Monthly rents have risen by £40 since May 2011, when the SNP gained control of Scottish Parliament

Rents in Scotland are at a record high, after the fastest month-on-month growth on record, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.

Average residential rents in Scotland have shot up 1.3% from April, after the cost of the new Land and Buildings Transaction Tax (LBTT) surcharge has pushed up prices in the market.

This increase means that the average rent in Scotland now stands at £549 per month. This is the highest Scottish rents have been ever been, surpassing the previous record set in July 2015.

This month also marks five years since the Scottish National Party gained an overall majority in the Holyrood. Since then, average rents have seen a 7.9% (£40) upswing from £509 per month in May 2011.

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Source: Scottish Buy-to-Let Index, May 2016

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