Private rents climbing in Scotland as English move in to invest

Rents in Scotland are continuing to climb.

The national average is now £775 per month, up 2.4% on a year ago.

Average rents have now broken through the £1,000 per month mark in Edinburgh to stand at £1,014, up 7.6% year on year.

Rents in Glasgow are averaging £733 per month, up 7.2%, and in Aberdeen £829.

Agents are reporting a shortage of stock in relation to demand, with a number expressing concern over the introduction of the 3% tax surcharge on purchases of second properties.

One agent, Clan Gordon in Edinburgh, is reporting that there has been a sharp fall in the number of owners moving to a new property and letting out their old home.

The same agent also reports an influx of investors from England.

The figures are supplied by rental website CityLets.

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