Scotland’s private rents rise to new high

by Readers Question

6 years ago

Scotland’s private rents rise to new high

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Scotland’s private rents rise to new high

Ahead of Scotland’s largest gathering of landlords in Edinburgh, at the sold-out National Landlord Day Conference on 6 Nov, the Scottish Association of Landlords reports that according to research carried out by leading internet advertising portal Citylets, average mix adjusted rents reached a new high for Scotland of £672 in the third quarter of 2012, Dan Cookson, Market analyst says:

“To coincide with our sponsorship of National Landlord Day our Q3 2012 report is a bumper issue and covers new areas of Fife, Renfrewshire, West Lothian and South Lanarkshire for the first time.

This is also our first report since major changes to the Scottish private rented sector were introduced…namely the clampdown on agent fees and the introduction of the Tenancy Deposit Scheme- both of which have the potential to put upward pressure on rents. However, it is clear that rents have not yet jumped in the way that some had anticipated though it is still very early days and we expect the full impact of changes will take several quarters to reveal themselves in our data.”

John Blackwood, director of the Scottish Association of Landlords comments:

“Ahead of our national conference and reports of rents reaching a new high for Scotland, landlords will be pleased to note that demand for private rented accommodation is on the increase. Also, expect rents to rise even further in 2013 as we see the full effect of greater legislative pressure on the sector.

This combined with benefit cuts will undoubtedly affect those families on low incomes as they struggle to find suitable accommodation in the private rented sector.”

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