Scottish landlord enjoy boost to rental yields
Rental yields in Scotland reached 4.7 per cent in April as many regions saw growth in monthly rents, according to Your Move.
The estate agency group found that across Scotland the average rents increased by 1.7 per cent to £581 per month in the year to April.
Its research shows that rents increased in three of the five regions surveyed, led by the Highlands and Islands region where prices grew by 3.6 per cent year-on-year to reach £688.
However, Edinburgh and Lothians remains the area with the highest rent in Scotland with an increase of 3.1 per cent over the past year to £693 a month.
The East of Scotland saw rents rise by 2.1 per cent to £542.
But in the southern region, rents dropped by 1.2 per cent to £540 – making it the cheapest place for tenants in in Scotland.
Glasgow and Clyde saw rents dip slightly by 0.3 per cent to £586.
Your Move Scotland lettings director Brian Moran says: “As we enter the summer months, we can reflect on the resilience of the Scottish rental market, which has weathered a difficult winter admirably.
“The Highlands have continued their recent trend of strong rental yields.
“This is fuelled in part by an influx of young professionals into Inverness, such as student doctors at Raigmore Hospital.
“The market in this region has been further buoyed by a strong holiday lettings market as investors and tenants, from the south of Scotland and even England and Wales, are drawn to the beauty of the Highlands.”
Moran also says there has been rising demand from tenants for two and three-bedroom homes in commuting towns like West Lothian and South Fife, so landlords should ensure they understand local transport links and school demand in order to find properties that appeal to young families.
Article by Mortage Strategy May 24th, 2019