Rents in Scotland hit record high

Private landlords are well used to coming under pressure about the rise in rents in the South East and London, but now the focus is in on north of the border in Scotland.

New figures show that rents in Scotland reached an all-time high of £672 in the three months to the end of September and landlords warn that they’ll continue to rise next year as cost of new legislation is borne by tenants.

Aberdeen remains the most expensive place to rent, with the average monthly cost of a two-bed flat – the most popular rented property type – rising 2.4 per cent to £899 over the past year.

Scottish rents still have some way to go until they reach the heights of London – typical monthly rents increased by 2.9pc year-on-year to reach £734 in August, surpassing a previous peak of £725 recorded in July – but are not so far away as to not cause worry amongst landlords and tenants alike.

Landlords in Scotland are worried that rising rents are adding to the increase in time it takes to let a property. The average property is taking longer to let out and figures show average letting times are around 20-25 days.

The good news for Scottish private landlords is that demand for private rented accommodation is on the increase.