Rents shoot up in Scotland ‘but not because of fees ban’

Rents on new rental agreements have gone up far more sharply in Scotland than anywhere else in the UK.

According to referencing firm HomeLet, average rents in Scotland rose 10% last month compared with June.

The sharp rise contrasts with a 4.4% increase across the UK as a whole.

However, the firm told Eye that “unless we have missed something”, it does not correlate the sharp rise in Scotland with the ban on letting agent fees.

According to HomeLet, the average monthly rent agreed in July was £900 in the UK, and in Scotland £636.

Curiously, new agreed rents in Scotland fell in both May and June, with HomeLet saying “the 10% rise in July represents a sudden change in the state of the market”.

The highest new rents are, predictably, in London at £1,429 per month. The lowest rents are almost three times lower in the north-east at £520.

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