July 2016 - Scotland’s rental market remains buoyant over summer months
Edinburgh and Lothians home to highest rents
On a regional basis, the Edinburgh and Lothians area was home to the highest rents in Scotland. Properties in the capital and surrounding areas attracted rent of £639 in the month of July. This is 4.4% higher than the £611 recorded in the same month last year, although slightly down on April’s average rent of £651 – the high point of the year so far.
Prices in the Glasgow and Clyde area have been quickly catching up in the last 12 months. The average monthly rent in this area grew 11.7% in the past year, rising from £562 to £628.
The East of Scotland region saw much slower rental growth during the same period. Prices in this area now stand at £539 per calendar month after growing 1.5% since July 2015.
All areas of Scotland showed growth compared to the same point last year, something which suggests that the UK’s decision to exit the European Union has had limited impact on the rental market.