Edinburgh has the highest rents in Scotland

Michael Lloyd

June 29, 2018

The Edinburgh and Lothians region continues to have the highest rents in Scotland, with prices in these areas rising by 3.1% in the last year to reach £677 per month, Your Move Scotland found.

The average rental price across all areas of Scotland increased by 0.2% in the last 12 months to reach £572 on a seasonally adjusted basis.

Brian Moran, lettings director, Your Move Scotland, said: “Capital cities often attract people from all over the country and Scotland is no different.

“The lure of the big city has increased demand for properties in the capital and rents have risen accordingly.

“Scotland’s other big city, Glasgow, also recorded strong growth while more rural parts of Southern Scotland saw prices cool.

“Despite these changes, landlords across all areas of the country continue to see strong returns on their investment.”

The Highlands and Islands region is closing in on its rival as prices jumped 10.6% in the last year. In this region demand is outstripping supply, as potential buyers move to the Highlands with a ‘try before you buy’ approach – initially renting before deciding to buy in popular areas like Elgin and Dingwall.

In Inverness price growth is mainly attributed to the University of Highlands & Islands, which has seen an influx of doctors from Edinburgh and Aberdeen to Raigmore Hospital.

With higher demand for available properties, this has led to rental yields increasing, particularly on two bedroom properties with parking space.

At the other end of the scale, the East of Scotland continues to have the cheapest rents in the nation. The average price now stands at £530 following a 1.8% fall in the last year.

The only other areas to see rents drop was the South of Scotland, where prices fell by 3.5% in the year to May. This leaves the average monthly rent at £547.

Prices in the remaining region, Glasgow and Clyde, grew by 4.8% annually to stand at £591.

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