Your Move Scotland has reported that landlords in Scotland’s biggest city saw rents rise faster than anywhere else between April and May.
Prices in Glasgow and the Clyde increased by 1.9% month-on-month, well ahead of the 0.2% average across Scotland.
On a yearly basis, prices in Scotland grew by 1.7%, buoyed by strong price growth in the Highlands and Islands. The average rent in the nation now stands at £582 (seasonally adjusted).
On a non-seasonally adjusted basis the average rent was £589 in May.
Rents rose in most areas of Scotland during the month of May, Your Move Scotland found, as demand in the market increased.
Brian Moran, lettings director at Your Move Scotland, said: “Although the property purchase market may have slowed in some areas, demand for rented homes continues to outstrip supply.
“This was seen most strongly in the Highlands and Islands region, where prices have leapt in the past year.
“Scotland’s major cities of Edinburgh and Glasgow showed impressive monthly figures, demonstrating the enduring popularity of these areas.
“And with landlord returns remaining strong once again, May was a positive month for the Scottish rental market.”
On a monthly basis it was the Glasgow and Clyde region which posted the strongest price rises, with average rents growing by 1.9% between April and May. This reversed a recent trend of falling rents in the city, leaving the average monthly rent standing at £597.
This put it ahead of the Highlands and Islands, where prices grew by 0.6% month-on-month to hit £692. The region has regained its title of most expensive place to rent in Scotland. This follows an average price rise of 3.8% in the last year, faster than anywhere else.
On an annual basis, four of the five regions surveyed saw prices rise. In the East of Scotland prices grew by 2.7% to reach £544 while in Edinburgh and Lothians annual growth of 1.9% left prices standing at £689.
The South was the only region to see prices fall, with the typical rental property now let for £542, 0.9% lower than a year ago.
It remains the cheapest place to rent a property in the country.
On a national basis, the average Scottish rental price increased by 1.7% in the year to May and now stands at £582 per calendar month (seasonally adjusted). This figure is 0.2% higher than amonth ago.
On a non-seasonally adjusted basis the average rent was £589.
