Rents in Scotland hit a record high in the second quarter of this year, Citylets has revealed.
Figures from the Scottish rental portal shows average rents were at £789 north of the border, up 1.5% year-on-year.
Average rents in Edinburgh also reached an all-time high of £1,037, up 5.2%, while Glasgow rents rose at a similar rate to £755 a month.
However, rents in Aberdeen have declined 5.2% year-on-year to £788 due to persistently high stock levels and shortage of takers in the post-oil slump, but the drop isn’t as steep as the 11.2% recorded in the first quarter.
Thomas Ashdown, managing director of Citylets, said: “Our latest report underlines the strong growth in Scotland’s largest cities.
“Edinburgh has recorded positive annual growth every quarter for a full eight years and averages 6% over the past five years.”
Comments (4)
Just a reminder that Scotland does not have Tenant Fees and growth is due to the strength of the Market.
Spot on Neil!
Does it mean that rents went up to cover those fees that would have been there?
Shock horror, rents have gone up. The government may well want to consider this before making their decision on banning letting fees. Based on a typical London rent that amounts to an increase per annum of £780. Sound similar to what a tenant might pay in fees today and now as a tenant I have to pay this every year in rent……..The market always balances out in the end.