November 2016 - Scottish rental market enjoys continued growth
Capital city races ahead of other regions
The Edinburgh and Lothians region continued its recent sterling performance into November, Your Move Scotland found. The capital city and surrounding area boasted rent growth of 4.9% in the last 12 months, faster than any other part of the country.
It also held its crown as the place with the highest rents in Scotland. The typical property in this region now lets for £645 per calendar month.
The closest challengers are Glasgow and Clyde – with an average rent of £577 a month – and the Highlands and Islands, where the typical property lets for £576. However, the two areas have fared quite differently in the past 12 months. Prices in the Glasgow and Clyde area have risen by 0.9% while those in the Highlands and Islands region dropped by 7.8%.
Prices in the South of Scotland nudged down 1.1% year-on-year to stand at £544, although there was 0.6% growth between October and November.
The East of Scotland remains the cheapest place to rent a property in the country, although prices in this region did rise compared to both last year and last month. The average rent of £529 in October was 0.8% higher than 12 months ago and 0.2% up month-on-month.