The average rental property in Scotland increased in value by 0.7% in the 12 months to February 2018, reaching an average of £569 (seasonally adjusted), Your Move has reported.
However, this growth has slowed in recent months. On a non-seasonally adjusted basis, the average across Scotland was £568 in this survey, up 1.4% on last month but down 1.2% year- on-year.
Brian Moran, lettings director at Your Move Scotland, said: “While growth has slowed compared to recent times, the Scottish market continues to grow at a healthy and steady pace.
“Yields remain strong compared to the average found in England and Wales, which will provide further encouragement to landlords looking to invest further.
“Encouragingly, tenant arrears have stabilised in recent months, meaning that landlords have more assurance over their investment.
“The outlook remains positive, although all landlords should check that their current letting agent is compliant with new rules from the Scottish government.”
The average Scottish rental property was let for £569 per calendar month during February 2018, Your Move found.
This is 0.7% up compared to the same point a year ago, but the speed of growth has slowed in recent months and there are wide regional differences across the ve Scottish surveyed.
Three areas saw rents increase in the last year, with the Highlands & Islands, Edinburgh & Lothians and Glasgow & Clyde.
Prices in the Highlands & Islands region grew by 10% in the last year to reach an average of £644 The next fastest growth was seen in the Edinburgh & Lothians area, where the average price is now £666 following 2.5% growth in the last year.
Elsewhere, the Glasgow & Clyde region posted a 1.2% annual rise to hit £572 while prices in the East of Scotland fell by 0.2% to £534.
The biggest fall came in the South of Scotland where prices dropped 2.3% year-on-year. The average property now costs £548 a month to rent.
The East remains the cheapest place for tenants to rent a property in Scotland.
