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Rent on the rise in Scotland

Monday, 15th August, 2016

Rent Increases
 
Figures released by YourMove Scotland  in June have shown rents increased by 1.3% across Scotland since April with the average rent now at £539pcm.
 
This is the fastest growth on record and has beaten the record from July 2015. In the Scottish Buy-to-let Index You move claims  that rents have risen as a result of the new Land and Buildings Transaction surcharge.
 
 In the region of Glasgow and Clyde, monthly rents increased by 1.9% to an average rent of £549. In the South of Scotland, rent levels were at £514, an increase of only 0.2%. Rent rose most in Edinburgh and the Lothians with a 1.7% increase leaving the rent at £662pcm.
 
All these figures are from April to May 2016.
 
Rent arrears are on the increase from 11.6% in April to 12.5% in May and this is explained by the lack of improvement in tenant's finance. The report quotes that employment fell by 48,000 between February and April this year with the oil sector remaining especially weak.




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