Rents increased by just 0.4% in Scotland in year to November 2018
Average rents increase by 0.4% in the 12 months to November 2018 in Scotland, taking the average private sector rent to £574 per month, the latest Your Move index shows.
Glasgow and Clyde recorded the fastest rent rise at 14.1% year on year, toppling the long term market leader, the Highlands and Islands. A typical property in the area now rents for £616 per month.
Despite no longer being top of the charts, there was strong price growth once more in the Highlands and Islands area at 13.1% to an average of £699 and it remains the most expensive place to rent in Scotland.
Edinburgh and the Lothians also saw rents rise, up by 3.1% to £687 while in the South of Scotland rents fell by 4% to £535 and in the East of Scotland they fell by 1.7% to £530 and they are the two cheapest places to rent in Scotland.
Month on month, all regions were flat or posted modest rent rises and there was a small decline in the returns enjoyed by landlords this month, down 0.1% to 4.6% but this is favourable compared to the average of 4.3% in England and Wales.
‘Average returns have declined slightly, but the Scottish rental market continues to offer favourable returns compared to those in England. Tenant arrears have fallen once again, suggesting that renters are in a much better financial position than in recent months,’ said Brian Moran, lettings director of Your Move Scotland.