JANUARY 02, 2018 | BY A & S Property
Scottish rental market ‘remains on a positive trend’
The annual rate of rental price growth in Scotland hit 2.2% in November, the latest Your Move buy-to-let index shows.
On a seasonally adjusted basis, the average property north of the border let for £572 per calendar month (pcm) – the same level since July 2017.
When looking on a non-seasonally adjusted basis, the average rent was £569pcm in November – flat compared to the corresponding month in 2006.
Four of the five Scottish regions saw rents increase in the year to November, led once again by growth in the Highlands & Islands where prices are 7.3% higher year-on-year, hitting an average of £618pcm, which is up from £613pcm a month earlier.
The Edinburgh & Lothians regions remain the most expensive in Scotland, with the average price standing at £667pcm.
Glasgow & Clyde was again the only region to see a year-on-year price fall, with average rents in October hitting £540pcm, which is down 6.5% year-on-year.
According to Your Move, landlords in Scotland achieved a 4.8% yield on average on their properties, which is the same level as September and October.
Brian Moran, letting director at Your Move Scotland, commented: “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.”
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