Scottish rental growth stalls but continues to outpace rest of the UK

Rent increases in Scotland continued to outpace those south of the border in October, increasing 2.5% in October to £575 a month, Your Move says.

Data from the agent shows that despite rental growth remaining the same as last month, rents are still rising faster on average than the 2.4% recorded in England and Wales

The Highlands & Islands region continues to grow faster than any other, Your Move Scotland found, up 6.4% annually to £613 a month, while Glasgow & Clyde region saw prices drop 5.3% to £543 per month.

Brian Moran, lettings director at Your Move Scotland, said: “As we approach the end of the year, the Scottish rental market continues to perform strongly when compared with other parts of the UK.

“Yet landlords need to be aware that some key legislation changes are on the horizon and they should be making sure that their letting agency will be compliant with the new rules.

“Changes to legislation means landlords will be required to register new leases in line with the Private Residential Tenancy by December 1.

“This will not affect landlords with live Short Assured Tenancy Agreements as these leases will remain the same until either party gives notice or it runs to its natural end date.

“The Letting Agent Code of Practice also launches in the new year, which means landlords should start preparing for these changes in good time.”

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