Scottish rental prices dropped ahead of General Election

Jessica Nangle

June 29, 2017

Scottish rental prices fell 2.3% between April and May before the General Election, reveals Your Move Scotland.

Despite the fall in rents, landlords continue to see high yields on returns, with the average yield in May getting to 4.9%.

Brian Moran, lettings director at Your Move Scotland, said: “With the General Election taking centre stage throughout May, it should come as no surprise that rent ticked down from their previous level.

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“Prices in most areas remain above where they were a year ago, with growth coming across a number of areas.”

Rents still rose year-on-year however, as the average rent stood at £561 by the end of May which is 2.2% higher than the £549 recorded in May 2016.

The Highlands and Islands saw the biggest monthly increase with prices increasing by 1.2% to reach an average of £603.

Edinburgh and Lothians continue to have the highest rents in Scotland however, increasing 0.1% in May to reach £656.

Across all areas of Scotland, 12.3% of tenancies had arrears of one day or more during May 2017, which is above the level found in England and Wales.

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