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Scottish rents rise in most regions: Your Move

Average monthly rents in Scotland rose by 1.7 per cent to £582 in May while investment yields held steady, the latest index from Your Move shows.

The Highlands and Islands posted the strongest annual growth of all the regions, with rents rising by 3.8 per cent to £692.

In Edinburgh and Lothians rental prices rose by 1.9 per cent to £689.

Rents had been falling in Glasgow and Clyde, but the trend reversed in May with an increase of 1.9 per cent month on month to £597.

This was 1 per cent higher than a year ago when rents were £591.

The South was the only region to see prices fall, with prices dropping 0.9 per cent to £542, making it the cheapest place to rent in Scotland.

Yields for landlords remained stable in May after the first increase in two years in March when they edged upwards from 4.6 to 4.7 per cent.

In England and Wales only the North East and North West offer higher yields at 5 per cent and 4.8 per cent respectively.

The index shows that 10.1 per cent of tenants reported financial difficulty in May, down from 10.7 per cent in March.

Your Move Scotland lettings director Brian Moran says: “Although the property purchase market may have slowed in some areas, demand for rented homes continues to outstrip supply.

“This was seen most strongly in the Highlands and Islands region, where prices have leapt in the past year.

“Scotland’s major cities of Edinburgh and Glasgow showed impressive monthly figures, demonstrating the enduring popularity of these areas.

“And with landlord returns remaining strong once again, May was a positive month for the Scottish rental market.”

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