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.”
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.
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Just a reminder that Scotland does not have Tenant Fees and growth is due to the strength of the Market.
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Spot on Neil!
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Does it mean that rents went up to cover those fees that would have been there?
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