Scotland’s rental market shows no signs of slowing down, according to the latest quarterly report from lettings portal Citylets.
Figures to the end of September 2014 show that national rents have risen 7.1% in the last year to stand at an average of £736.
The data comes as the Scottish Government launches a consultation which makes it clear it is considering rent controls.
The Scotland figure is heavily influenced by rises in three out of four of the country’s main cities of Edinburgh (6.8%), Glasgow (8.3%) and Aberdeen (6.4%).
The site said that the third quarter of the year (July-Sept) is almost always the peak time for lettings activity so rent rises are not unexpected. However, it said it expects to see all three main cities experience year on year rises in the 6-8% band.
Thomas Ashdown, Citylets managing director, said there is now widespread concern that the private rental market in Scotland is experiencing severe and chronic localised shortages in supply.
He said: “We need more homes built, pure and simple. This affects all property tenures and now it seems it is hitting hard in parts of the rental market. Edinburgh has now experienced six consecutive quarterly rises and appears on a trajectory similar to Aberdeen in recent years.
“The Government must get it together with the property and financial industries now before we have a full-scale crisis.”
Rents for Aberdeen stood at £1,066 in the third quarter, in Edinburgh £876, and in Glasgow £669.
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