Fri, 26 Jun 15
A record monthly jump in price has seen average rents in Scotland leap to a new high.
The average Scottish rent has reached an all-time high of £544, following a 1 per cent boost in May 2015, according to the latest Scotland Buy-to-Let Index from Your Move.
In contrast, over the past six months, rents have risen by an average of just 0.1 per cent per month. May’s rise represents the strongest monthly uplift on record, as rent growth begins to pick up.
Following this May jump, typical residential rents in Scotland have now risen 2.7 per cent (equivalent to £14) in the past year – the fastest annual increase in rental prices for nine months. This also represents a significant increase from 1.6 per cent annual growth in April 2015 and 1.3 per cent in March, after a recent lull in annual rent rises.
Brian Moran, lettings director at Your Move Scotland, comments: "To put this into context, we’ve just turned a full circle. After a downtrend in rent growth over the winter months, we’re now back on par with the rate of rises a year ago. In fact, at the same time last year, rents were rising at a moderately faster pace, with 2.8% annual growth in May 2014."
Back to: News Index