Rent rises in Scotland becomes slower

scotland-rent-houseThe rate of rent growth in Scotland has almost got halved since the summer slowing from 3.1% annual rise in second quarter, according to a latest report. The average rent in Scotland now is 1.6% higher than the previous year, even though there is rise but wasn’t rapid as it is in other places. The rents have been falling recent months, but there are signs of growth after this autumn fall with rents hiking to 0.2% between September and October 2015, being the first month on month rise in Scotland rents after July.

Expert says: “After a fall in rents there has come a change in the pace of mortgage market as rent increases. This is giving Scotland tenants a much smoother ride than a few months ago, and there are signs from landlords that this trend will continue until 2016. Another thing Landlords are to be concerned of is, setting fixed rents. Some may not expect all their costs and may therefore have problems in keeping up with their mortgage payments. There is also a risk that insecurity over costs may lead them to set rents at too high a level, which may lead to the loss of the tenant.”

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