Dundee rebounded strongly from a sharp drop last quarter where falls in larger properties weighed on the city average. Average rents rose from £552 in Q4 2017 to £614 in Q1 2018, up a modest 0.7% YOY consistent with its generally sanguine characteristic but with 1 beds up a significant 5.6% YOY. Similarly West Lothian saw a return to sharp annual growth up 4.6% YOY with all 1-4 bed markets recording strong growth. South Lanarkshire saw strong YOY growth in 1 bed markets at 3.8% contributing to growth of 0.7% across the region.
“We have found there has been no significant change in the market since the last quarter of 2017. Viewings have been disappointing on those properties at the lower end of the market but the upper end seems to be ‘ticking along’. Again, rental values have been sustained on those we have let, with quality accommodation leading the way.”
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