The UK experienced unprecedented political uncertainty in Q1 2019 wherein Brexit failed to materialise nor any clear path forward agreed. Yet again, however, the Scottish PRS continued on its course albeit with mixed reports of cooling from agents in the central belt. Nationally rents rose 1.7% year on year (YOY), similar to increases posted throughout much of 2018, with the average property to rent in Scotland now standing at £793 per month- just below the all time high recorded in Q2 2018 (£799). The market pace on the whole is unchanged on last year with an average time to let (TTL) of 37 days and just over half of all properties (51%) let within a month.
“The rental markets in Scotland’s two largest cities continue to experience high levels of demand, driving continued growth in achievable rental values at the start of 2019. Over the first quarter of the year, despite increasing stock levels in both markets, enquiry levels, especially in city centre locations, continue to outstrip supply fostering market competition and supporting values. In the rural rental market in Central Scotland demand from families, who in recent years have been increasingly considering renting over buying, have continued to seek out the right family home for longer tenancies.””
I am a Tenant Landlord
