Scottish rental market sees divide emerge

Your Move Scotland has revealed that a split has emerged in the Scottish rental market, with three regions posting strong growth as two areas of the country saw rents decline.

The firm found that prices in Edinburgh and Lothians, Glasgow and Clyde, and Highlands and Islands regions all grew compared to a year ago.

However, the average prices in the East and South regions declined in the same time period.

The average rental price across all areas of Scotland increased by 0.1% in the last 12 months to reach £572 (seasonally adjusted) while on a non-seasonally adjusted basis the average rent this month was £570.

Three of Scotland’s five regions saw average rents rise in theyear to June 2018, Your Move Scotland found.

The strongest growth was seen in the Highlands and Islands, where prices have grown by 10.9% in the last 12 months. The average price in the region now stands at £668.

Close behind was the Glasgow and Clyde region. Here the average property now lets for £598 per calendar month, following growth of 9% in the last year.

The final area to post an annual price increase was the capitalcity. In the Edinburgh and Lothians region there was an average price increase of 2.9% in the year to June. The typical property in this region now stands at £680 and is the most expensive place to rent in Scotland.

While three of the five Scottish regions saw prices grow, theother two saw slight falls in average rents. In the East of Scotland, rental prices fell by 2.5% year-on-year to hit £527.

The other fall was in the South of Scotland, the average property in this area now lets for £547 following a fall of 3.9% in the last year. The East and South of Scotland remain the cheapest places to rent in the country, with the gap between these and the other regions widening.