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Thursday, May 28, 2015

Scottish rents rise by 1.6% over the year

Your Move's Scottish Rental Data for April 2015 showing rents have risen by 1.6% over the previous 12 months, with the average rent rising to £539.
Glasgow and Clyde have seen the biggest growth, up 5.0% over the year.

Severe arrears of more than two months’ rent up 4% year-on-year across the UK as a whole

Landlords’ total annual returns double in past year, rising to 15.2% in April 2015 from 7.2% a year ago Rent rises in Scotland have started to pick up pace, according to the latest Scotland Buy-to-Let Index from Your Move,

Brian Moran, area lettings director at Your Move, commented:

“Scottish rents have peaked at a new apex, as lethargic supply of rental homes fails to match up to towering demand for homes to let. After rental prices plateaued over the winter months, we’re seeing annual rent rises start to ascend again.   

Affordability in the private rented sector now rests on new housing becoming available to let, and more choice for tenants, to keep rents competitive and rent rises in check. Solid rent rises offer clear encouragement for those contemplating buy-to-let investment, but fears of prohibitive rent controls and additional tenancy legislation in Scotland may be off-putting, which could choke off new supply of rented homes, and drive up prices for tenants.” 

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