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Scottish rental market rises in the year to October 2018 – Your Move

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  • 30/11/2018
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Scottish rental market rises in the year to October 2018 – Your Move
The Scottish rental market grew in the year to October 2018, with wide variations between the five Scottish regions, data showed.

 

The average rent in Scotland stood at £573 on a seasonally adjusted basis in October 2018, whilst on a non-seasonally adjusted basis it stood at £582, according to Your Move Scotland.

The fastest growth was seen in the Highlands and Islands, with the average property let for £698 in October.

They were followed by the Glasgow and Clyde region, with prices rising by 13% in the year to October to reach an average of £613.

Sandwiched between the two aforementioned areas is the Edinburgh and Lothians region, with average prices at £684 per calendar month, following the growth of 2.1% recorded last year.

Meanwhile, there were falls in the East and South of Scotland regions.

 

Strong average yield

The average Scottish property investor enjoyed a yield of 4.7% once again this month, the same return as last month but lower than the 4.8% recorded in October last year.

Across both nations the average yield was 4.3% in October. The individual regions of England to post stronger returns than the Scottish average during October were the North East (5%) and North West (4.8%).

There was a small fall in the number of tenancies falling into arrears in October. Some 10.4% of all tenancies faced financial problems of some kind this month, lower than the 11% recorded in September.

On an absolute basis, the number of households in serious arrears was 9,815 in the month.

Brian Moran, lettings director of Your Move Scotland, said: “ Landlords continue to enjoy strong returns on their investment, particularly when compared to investors south of the border.

“An average return of 4.7% is also strong when compared to other forms of investment.”

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