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Glasgow and Clyde have posted the fastest rent rises in Scotland, beating the long-time market leader – the Highlands and Islands.
Glasgow and Clyde have taken over as the pacesetter in the Scottish rental market with prices in the city and surrounding areas increasing by 14.1% in the year to November 2018.
Although the Highlands and Islands area no longer top the rental market, they still saw strong price growth. Prices grew by 13.1% in the last year to reach £699 and it still remains the most expensive place to rent in Scotland.
Edinburgh and Lothians also saw rents increase with prices rising by 3.1% in the last year. However, the South and East of Scotland saw prices drop, with the former falling by 4% and the latter by 1.7%.
Overall there has been healthy growth in Scotland in the last year, with the overall marketing increasing up by 0.4%. Your Move Scotland found that the average rent in the country is £574 per calendar month (seasonally adjusted) in November 2018.
There has been a slight decline in returns for landlords this month. However, Brian Moran, Lettings Director, Your Move Scotland, puts it into perspective by comparing the current returns to the rental market in England.
He said:
Sadly for landlords, average returns have declined slightly, but the Scottish rental market continues to offer favourable returns compared to those in England.
For more information on data from the Scotland Rental Tracker, read this month’s full report.
If you’re looking to get in touch with one of our branches in Scotland, visit our Scotland regional page, which has all of our branch listings in the country.
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