The Scottish PRS seemed wholly unaffected by the sustained political uncertainty, and indeed general election, in Q4 2019 bringing the year and decade to an unusually fast finish. Time to Let (TTL) figures fell, particularly in Glasgow where the local market was unseasonably strong. Rental growth operated to recent trend with average rents in Scotland rising 3.5% year on year (YOY) to stand at £798 per month and taking just under 1 month to let at 29 days. The strong annual National rise in recent quarters seems materially driven by an increasingly buoyant west coast market as much as the long running strength of the capital.
“Despite the legislative challenges being faced by landlords in Scotland, I feel as though there is generally a positive mood surrounding the PRS. Tenant activity levels throughout the country are healthy, with a noticeable improvement even in Aberdeen after a few challenging years. Relocation agents, who act for the larger corporate tenants, are also busier, which bodes well for the longer term. Other than a few areas where there is scarcity, overall there appears to be a good choice of properties available for tenants. Therefore, whilst undoubtedly 2020 will come with a few bumps along the way, my instinct is it will be a more favourable year for the Scotland’s PRS.”
I am a Tenant Landlord
