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Scottish Rents Behind UK Average

Property renting prices in Scotland have risen significantly less than in the rest of the Uk according to a poll from Your Move.

According to the report, in the last four years, the cost of renting a property in Scotland has risen by just over 5%. Conversely, in the last four years the cost of renting has risen by almost 10% across England and Wales.

Tenants in Scotland currently pay an average of £536 per month, up slightly from £509 in 2011.

Rent Levels Vary

The Your Move report shows that rent has risen in three of five areas in Scotland, with Edinburgh and the Lothians recording a growth of 3.8% in the previous year. Glasgow and the Clyde area saw rent rise by 1.3%.

The Highlands and the South of Scotland saw rents fall by 1.4% and 1.6%. Rents in England and Wales have risen by 2.8% on average year-by-year.

Brian Moran, area lettings director at Your Move, said: “Scottish tenants are having a much smoother ride than their counterparts south of the border, with rental prices in Scotland climbing at a considerably slower pace.

“Despite a snowballing demand for homes to let, the private rented sector has managed to shelter tenants from the worst extremes of rent inflation and rents have navigated an affordable route broadly trailing inflation.”

Property Price Rises

Despite what would potentially be argued as an argument for renting property, 2014 saw more people in Scotland getting on the property market, with more first-time buyers and other buyers boosting the Scottish property market.

Contact Us

If you are interested in buying a property in Scotland, or require legal advice regarding buying a property or a property dispute, contact our team of expert solicitors today.