Property rents in Scotland have increased by 6% in the last 12 months

srResidential rents in Scotland have increased by 6% in the last 12 months. Rental prices in London may be falling, but no such change is occurring in the Scottish capital. According to The Your Move Scotland index report, the market in Edinburgh is driven by a lack of suitable housing stock. Demand is particularly strong in the city center, but all areas of the capital are experiencing interest. The South of Scotland is seeing the fastest with rents up 7.1% year on year, the East of Scotland rents were up 2%. Families were a key reason for this growth, particularly in the Fife area where three and four bedroom properties were in especially high demand.

Brian Moran, lettings director of Your Move Scotland: “Demand continues to outstrip supply in Edinburgh, with this driving the price increases in all areas of the capital. The wider Lothians area remains popular and any property with an EH postcode is in very high demand, While rents in Edinburgh continue to outstrip the rest of Scotland by some margin. The city was not the area which had the fastest growth in the country with rents in the South of Scotland up 7.1% in the last year. Landlords across Scotland also continue to enjoy higher returns on their investment than their counterparts in England and Wales, with the typical property offering a 5% yield.”

 

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