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Rise in Cost of Renting

A survey by Your Move, part of LSL Property Service, shows that average rents in Scotland have increased by an average of £26 per month since the clarification over administration fees in August 2012.

The reports shows that rents had been fairly stable in the previous two years but increased 2.7% from July 2013 to July 2014 bringing the average up to £534.

Your Move’s report also shows, however, that the average Scottish rent is 29% lower than the average English and Welsh rent (£753).

The average Gross Yield on a Scottish rented property is 4% (not accounting for void periods or arrears). Which is down 0.1% from July 2013.

For the full report please see:

http://www.lslps.co.uk/documents/buy_to_let_index_scottish_jul14.pdf

 

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