Rents in Scotland are growing four times faster than those south of the border.
Figures from Your Move Scotland show rents were up 1.7% annually in February to £579 per month.
This compares with annual growth of just 0.4% registered in England Wales.
The best performance came in the Highlands & Islands region, where prices increased by 7.3% in the past year to £691 per month.
Brian Moran, lettings director at Your Move Scotland, said: “Our figures demonstrate that for those owning rental property returns can be good.
“With more families appearing to be looking to rent, larger family homes represent an increasingly stable option for landlords.
“It is little wonder that existing or prospective landlords from other parts of the UK are choosing to enter the strong Scottish rental market.”
Comments (4)
The headline is misleading? Gets your attention but then shoots itself in the foot, as a return for a landlords it is clearly not a great choice, your rent is still way behind England’s average. According to Shelter you can get the Scottish average income for a English garden shed with 6 illegal immigrants, from each of them.
I am wary of Averages, as the UK is an amalgam of local markets all behaving differently. It would be good to know what sample this analysis of Highlands and Islands rents movements is based on: Large or small? Inverness or wider Highalnds and Islands region? Market rents for new tenancies or rent increases agreed with existing tenants?
Is this an invest in Scotland scam? Any investor should fully investigate the direction that the scottish policitians are driving their housing market before they decide to invest. Indeed, this also applies to England a financial health warning should be give “the value of your investment may go down and your liabilities significantly increase as a result of ongoing changes in Government Policy”
Forgive me, but this sounds like a misleading story…. average rent in London is £1,730 compared with £820 across England and £579 in Scotland. Scotland’s rent increased 1.7% which is only 1.3% more than the average rent in England increased (0.4%) and that may be down to agents waiting to increase rents until after the tenant fee ban to make their increased fees to landlords more platable. Scotland on the other hand has seen regulations and rules that favour tenants, causing (forcing) some landlords to leave the industry…. but maybe that’s just in my mind and maybe this article is accurate and not misleading…. maybe people really are flocking to Scotland to buy investment properties and “enter the strong Scottish rental market” …but it sounds questionable to me.
Have any Scottish agents here seen a big influx of English buyers cashing in on higher rents?