Scotland tops table for rental growth – Landbay

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  • 09/05/2019
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Scotland tops table for rental growth – Landbay
Rents in Scotland increased by 1.78 per cent over the last year, the largest rate of growth of any nation within the UK, according to the latest rental index from Landbay.

 

As a result, the average rent north of the border now stands at £750.

Edinburgh saw the highest rental growth of any town or city in the UK, with rents up by 5.44 per cent. Landbay noted that Glasgow City (2.59 per cent) and East Lothian (2.21 per cent) also enjoyed significant rental growth.

Wales performed well, with rents up by 1.26 per cent over the year, though it has much lower rents on average at £658.

Merthyr Tydfil saw the second highest rate of growth of any town in the UK at 4.65 per cent, while Blaenau Gwent took third spot at 3.92 per cent.

 

East Midlands best in England

In England, Nottingham enjoyed the best rental growth at 3.84 per cent. The East Midlands as a whole performed strongly, with average rental increases for the region at 1.98 per cent.

However, rents in the capital struggled, with average growth of just 0.66 per cent. Average rents in London now stand at a mammoth £1,906.

John Goodall (pictured), chief executive officer of Landbay, said that landlords looking for decent rental growth were best off looking north of London.

He explained: “On the face of it, landlords have had a tough time in the past few years, from increased regulatory pressure to a significant increase in stamp duty costs, yet they have managed to shoulder many of these costs without passing them onto tenants.

“For brokers, this provides them with the opportunity to give expert advice to their clients about changing elements of the housing market and which areas have the most potential in the coming months.”

 

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