Whilst letting agents in Scotland will have been preparing for compulsory registration introduced at the end of Q3 2018, Scotland’s Private Rented Sector continued unabated with noticeable uptick in Glasgow where rental growth spiked sharply. 4 bed properties recorded the largest rise across the country as a whole for the 3rd consecutive quarter, seemingly underlining the strong demand for family accommodation. Rents in Scotland were up on Q3 2017 by a modest 2.2% overall year on year (YOY) to stand at £789 per month on average and taking 31 days to let, just 1 day faster than last year.
“In the north of Scotland we are continuing to experience a market where stock is not an issue, whilst in the south there is insufficient availability of properties to meet tenant demand. This is resulting in the almost evitable increase of rent values in the south compared to the continued reduction in the north, albeit at a much slower pace. Whilst there are some encouraging sounds from the oil industry with several new projects being announced I do not anticipate it making too much of an impact in the north in the short to medium term. However whilst the country’s legislators seem hell bent on discouraging landlords to remain in the sector I can only see the rental trends in the south continuing unabated.”
I am a Tenant Landlord
