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Scottish rental market ended 2017 with higher yields than UK - BestAdvice

Scottish rental market ended 2017 with higher yields than UK

Scottish rental market ended 2017 with higher yields than UK

Your Move’s latest Scotland Rental Tracker has found that the Scottish rental market continued to grow throughout 2017, with the average rent (seasonally adjusted) standing at £571 at the end of the year.

On average, there was growth across Scotland of 1.7% in the year to December, although prices were down 0.2% month-on-month.

When looking at rents on a non-seasonally adjusted basis, the average across Scotland was £562 in December – £11 lower than in December 2016.

There were rent increases in four of the five regions in Scotland in the year to December 2017, Your Move Scotland found.

Average rents in the East, Edinburgh & Lothians, Highlands & Islands and South regions all increased in the past year.

The Highlands & Islands saw the fastest performance with rents rising by 7.4% over 12 months to hit an average of £623.

Brian Moran, lettings director of Your Move Scotland, said: “2017 demonstrated why the Scottish rental market appears to be a great place to invest. With a typical return of 4.8% a year, Scottish property offers more than the average returns of 4.4% in England and Wales.

“While its currently positive news, landlords need to be aware of changes to legislation which could will affect them in the future.”