Scottish Rents Rising on Buy to Let Property Investments

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Scottish rents grew by 0.9 per cent over the course of 2018 according to the latest Your Move Scotland Rental Tracker.

Average Scottish rents now stand at £576 per calendar month (seasonally adjusted). On a non-seasonally adjusted basis the average Scottish rent was £584 per calendar month.

The stand out performers for Scottish rent growth were the Glasgow and Clyde area and the Highlands and Islands region.

Rental growth in Glasgow and Clyde surged in 2018 by 12.7 per cent over the year, putting the area slightly ahead of the Highlands and Islands at a growth rate of 12.1 per cent.

Growth in the Highlands and Islands region, and Inverness particularly, was seen top be driven by the University of Highlands and Islands and Raigmore Hospital creating demand from students, doctors and nurses relocating to the area.

Scottish rents in the remaining three regions did not fare as well in 2018.

Edinburgh and Lothian saw rents increase by 4 per cent over the past year, to reach an average of £691.

The East of Scotland saw rents fall by 1.2 per cent in 2018, to reach the lowest average Scottish rent of £532. Southern Scotland fared even worse, with a drop of 3.4 per cent to an average rent of £535.

However, on a monthly basis the East of Scotland showed more promise with 0.4 per cent month-on-month growth from November, bettered only by Edinburgh and the Lothians at 0.5 per cent, while Glasgow and Clyde came in third at 0.3 per cent.

Rental yields on investment remained fairly strong for Scottish landlords, with the average yield on a rental property standing at 4.6 per cent.

This represents only a small annual drop from the 4.8 per cent enjoyed a year ago and remains higher than the average south of the border in England and Wales which stood at 4.3 per cent in December.

All in all, Scottish rents seem to have remained strong in 2018.

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