The Scottish property market continued its steady progress throughout July, with property prices rising and rental yields staying strong.
Average Scottish rents – not seasonally adjusted – was £575 during July 2017, according to the latest report from Your Move Scotland. This was 1% more than the £569 recorded last month and the greatest total recorded since February.
The most expensive region was Edinburgh and Lothians, with rents standing at £662 per month. On the other hand, the lowest were in Eastern Scotland, reaching £541 per month on average.
Improvement
Brian Moran, Lettings Director at Your Move, observed: ‘The rental market in Scotland continues to improve, with rents in July performing as well as they have all year. The next year will be an interesting time for the rental market due to the launch of a new style of tenancy agreement in December, while additional rules governing Scottish letting agents come into force in 2018.’
Concluding, Mr Moran said: ‘Whether you’re a landlord, tenant or letting agent now is the time to take stock and make sure the rental market is working for you and that you’re prepared for these changes.’
‘Looking ahead, we can expect the end of the summer to see a rise in letting activity as students move into new properties ahead of the academic year.’[1]
Scottish rents at highest level since February
[1] http://www.propertyreporter.co.uk/landlords/scottish-rents-hit-highest-total-since-february.html