Scotland has two speed rental market
Scotland’s rental market has become two speed – as Glasgow & Clyde as well as the Highlands & Islands saw yearly growth in excess of 10%, Your Move research shows.
Rents in the south of Scotland however fell by 3.9% compared to July last year, while they also fell by 2.7% in the East.
In Edinburgh and the Lothians there was a modest 3.1% increase.
Brian Moran, lettings director, Your Move Scotland, said: “There are still strong variations in rents across the different areas of the nation.
“The major cities of Edinburgh and Glasgow continue to post price rises while more rural areas have gained less traction.
“Despite these regional differences, the Scottish rental market as a whole continues to offer much higher returns than much of England and Wales.
“Arrears levels have also fallen compared to last month, suggesting a solid equilibrium has been reached which benefits tenants and landlords alike.”
Returns for Scottish landlords fell to 4.7% in the last 12 months, down from 4.9% in July last year.
This is still better than yields in England and Wales however, where they average at 4.4%.