Your Move Scotland has reported that the rental market north of the border remains in good shape, with the average rent the same as a year ago.
Rents fell marginally – by 0.1% – compared to August 2017, leaving the average rent at £572 (seasonally adjusted). On a non-seasonally adjusted basis the average rent this month was £573.
However, there was some disparity between regions, with some posting strong growth while others showed a modest decline in rents.
While the overall Scottish rental market was flat compared to a year ago, there were several successes this month, Your Move Scotland found.
Three of the five Scottish regions posted rent rises in the last 12 months – the Highlands and Islands, Glasgow and Clyde, and Edinburgh and Lothians regions.
Highlands and Islands was the biggest gainer, with average rents growing by 13.3% in the year to August. This left the average rent in the region at £684.
This now makes it the most expensive place to rent in all of Scotland, overtaking the Edinburgh and Lothians region.
There, the average rent grew more modestly, rising by 2.4% in the last year. The average rent in the capital and surrounding area now stands at £682.
The third region to post a rise was the Glasgow and Clyde area, where tenants saw their rents rise by 9.5% in the last 12 months to reach £602.
Rents in the South of Scotland fell by 4.1% in the last year, dropping to £542, while in the East property prices dropped by 2.4% to hit £527. The East was once again the cheapest region to rent a property in Scotland.
When all areas are considered, the average rent fell by 0.1%, reflecting these variations between regions. On a seasonally adjusted basis the average rent in Scotland was £572 this month. The non-seasonally adjusted basis this figure was £573.
Brian Moran, lettings director at Your Move Scotland, said: “Following increased demand and strong price growth, the Highlands and Islands became the most expensive place to rent a property in Scotland this month.
“It displaced Edinburgh and Lothians as the highest priced region, although this area also experienced solid growth.
“Overall the Scottish rental market is flat compared to last year, but improving tenant finances will be music to the ears of landlords.
“Property investors continue to see yields which are better than the majority of regions in England and Wales.”
