December 2017 - Scottish rental market continues to perform
On a seasonally adjusted basis, rents remain at same level since July 2017 at £572.
Edinburgh & Lothians is home to highest rents in Scotland.
Average property in capital city costs £667 per month.
Strong returns for landlords and investors at 4.8%, higher than average in England & Wales.
Highlands & Islands boasts fastest rent rises.
Brian Moran, Lettings Director, Your Move Scotland comments:
“While some areas are growing faster than others, the Scottish rental market as a whole remains on a positive trend - with the average rent increasing by 2.2% year-on year.”
“Particularly pleasing is the improvement in tenant finances, as fewer people are finding themselves in financial difficulty than last month.”
“This shows that despite year-on-year rent rises, more tenants are able to pay their rent in full and on time.”
“However, despite the positive news, there have been changes for letting agents, with more set to come on the horizon. Landlords should make sure they understand what the new tenancy agreement legislation means for their properties and look for support from letting agents to help them through these changes.”
The average Scottish rent increased by 2.2% in the year to November 2017, Your Move Scotland found. A typical property is now let for £572 per calendar month, when analysed on a seasonally adjusted basis and has remained at this level since July 2017.
When looking on a non-seasonally adjusted basis, the average rent was £569 in November - flat compared to the same month a year ago.