August 2016 - Strong summer performance for Scottish rental properties
Average property in Scotland lets for £576 per month.
Rental yields continue to rise, now at 5.9%.
Edinburgh and Lothians home to highest rents in Scotland.
There was no sign of a summer lull in Scotland and rental prices held firm between July and August. Properties in the nation attracted a typical rent of £576 in August 2016, up slightly on July’s figure of £574.
Rents have risen by 5.4% in the last 12 months, suggesting that recent economic turbulence has had little short-term effect on the Scottish rental market. Demand and prices have remained strong since the UK’s decision to leave the European Union, even though voters in Scotland preferred to remain.
Brian Moran, Lettings Director, Your Move Scotland comments:
"The Scottish rental market continues to power on. Despite the vote to leave the European Union having an effect on the wider economy, the rental market in Scotland remains in great shape."
"Average rents have risen month-on-month, even though the summer season traditionally signals a slowdown in the market."
"Landlords will also be celebrating increased gross rental yields across Scotland. The nation remains a popular place for investors to purchase rental properties."
"Edinburgh and the surrounding area tops the rental charts, although the South of Scotland has seen some impressive growth in the past 12 months."