You are here: Home - News -

Scotland sees rents rise across most of the country

by: Edward Murray
  • 31/10/2017
  • 0
Scotland sees rents rise across most of the country
The Scottish buy-to-let market returned rent increases in four out of five regions in the year to September 2017, according to Your Move Scotland.

The Your Move Scotland Buy-to-Let Index said the strongest growth came in the Highlands & Islands region where average monthly rents were £610. This was 5.6% higher than a year ago.

The next strongest growth came in Edinburgh and Lothians where average rents were 4.5% up on the previous year, standing at £669 in September.

Glasgow and Clyde was the only region to record a reduction in average rents. Average monthly rents in September were £541, down 6% on a year earlier.

Brian Moran, lettings director at Your Move Scotland, said: “With four of the five regions of Scotland showing price growth in the last 12 months, things are looking up for Scottish landlords. Returns remain highly competitive and landlords are enjoying greater stability from their tenants. However, the upcoming introduction of the Letting Agent Code of Practice means landlords should ensure their agent is ready for the changes.”

The Letting Agent Code of Practice will come into force from 31 January 2018.

Letting agents will be required to join a Register of Letting Agents and Your Move Scotland urged landlords and property investors to ensure their agent will be compliant with the new rules.

The survey found that landlords saw a return of 4.8% in September, down on the 4.9% recorded during August. This is also down slightly on the 5% recorded during September 2016.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
2235993-housesforsale
GOTO Conveyancing provides online platform to Mortgage Force

GOTO Conveyancing is making its online conveyancing platform available to Mortgage Force advisers nationwide.

Close